December's unemployment stats are for Alberta are here . Last month the rate was 7.4% and this month we saw a decrease to (drumroll please) 6.7%. Nationally, the job picture was flat, with half the provinces showing an increase in unemployment and the other half showing a decrease.
I think these stats are showing the establishment of the status quo. We need a few more months to really see it, but I think this 'recovery' that everyone is talking about is just leveling off from the correction we saw last year. The bubble of the boom couldn't sustain itself, it popped and now we're seeing more realistic growth.
Another piece of evidence is in the tax assessments. Last year, my basement condo on the Avenue of Nations in Edmonton was assessed at 190,000+. This year, my assessment is now 30,000 less. Now, I'm fixing up my unit to make it more palatable, but the new assessment is definitely more realistic than last year. I am of course hoping to sell for more, but right now, I might just need to wait and see if demand starts to pick up.
We really need a few more months to really see where our economy is going, but I think the evidence is continuing to point to a new status quo (as I've mentioned several times).
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