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Unemployment Rate & Brent — Calgary (2017–2025)
Calgary’s unemployment path plotted against Europe Brent spot price (FOB). Most of the time they move in opposite directions, but shocks like 2020 and the 2022–2024 oil upswing create temporary breaks and lags.
Tech Stack:
Power BI
SQL/ETL
Oracle
Focus:
Labour Market
Brent Oil
Business Cycle
Calgary Unemployment vs Europe Brent
Data Updated On Oct, 2025
Context: Local unemployment typically moves inversely to oil prices. The lines highlight both the inverse relationship and the lag structure — labour markets often react months after price shocks. Use the time slicer to compare pre- and post-pandemic cycles and the 2022–2024 oil upswing versus job recovery.
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📌 Interpretation Tips
- Inverse cycles: Falling unemployment with rising Brent is typical of energy-led expansions.
- Lags matter: labour conditions often trail price shocks by several months — check how peaks in Brent show up later in unemployment.
- Shocks & breaks: 2020 is an obvious break; the 2022–2024 upswing tests how far Calgary has decoupled from oil compared with past cycles.