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2016 ended with Edmonton’s unemployment rate increasing from 6.9 percent in Q1 to 7.4 percent. Even though the city’s average is lower than the provincial by 110 basis points it seems likely that unemployment will remain stable for some time before we see any improvements. The office market saw positive net absorption equating to 37,365 square feet in the fourth quarter. This is a result of the city beginning their move into its new office tower in the Ice District and the Alberta School Employee Benefit Plan moving into Allendale Centre East, located in the South Side submarket.
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