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Unemployment Rate & WCS — Calgary (2017–2026)
Calgary’s unemployment path plotted against WCS Oil spot price (FOB). In many periods they move in opposite directions, while shocks such as 2020 and the 2022–2024 oil upswing introduce temporary breaks and lagged labour-market responses.
Tech Stack:
Power BI
SQL/ETL
Oracle
Focus:
Labour Market
WCS Oil
Business Cycle
Calgary Unemployment vs WCS Oil Prices
Data through Feb 2026
Context: Calgary’s labour market often reacts to oil-price changes with a delay. This view helps show both the inverse relationship and the lag structure between WCS and unemployment. Use the time slicer to compare pre-pandemic conditions, the 2020 shock, and the later recovery period.
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📌 Interpretation Tips
- Inverse cycles: Falling unemployment with rising WCS is typical of energy-led expansions.
- Lags matter: Labour conditions often trail price shocks by several months. Check how peaks in WCS show up later in unemployment.
- Shocks & breaks: 2020 is an obvious break, while the 2022–2024 upswing helps show how far Calgary has decoupled from oil compared with past cycles.