As we first noted in Alberta Central’s 2021 Economic Outlook, the economic downturn triggered by COVID-19 has disproportionately affected certain industries, including art, entertainment and recreation, as well as accommodation and food services. (See K-shaped recovery, page 10.)
In a recent economic commentary, The COVID third wave is taking a toll on the job market, Alberta Central Chief Economist Charles St-Arnaud estimates that with more restrictions being put in place in recent weeks, Alberta could see between 35,000 and 65,000 further job losses in May. Of those, between 20,000 to 30,000 jobs lost are likely to be in the services sector, says Charles in another commentary (The COVID-19 third wave: A self-inflicted economic wound).
Speaking with Lisa MacGregor, Global News, Charles says it will be important to focus on industries that are struggling once things open back up.
“It is worrying because we’re one year in, it’s again the same categories of workers that have been hit last year that will be hit again this time,” says Charles. “Do they have the financial strength to go through another month or two without income?”
Read the full story here: Service industry hit hardest again by job losses, Alberta study finds