I live on the west side, which is nice because I go to the U of L and its a close drive. The west side is pretty nice but the only bad thing is that you have to cross the river to get anywhere (the mall, downtown, etc.) and theres not alot of stores and stuff on the westside. Ive never lived on the north or the southside so I cant really comment. The North side is shaping up but it seems the nice areas are on the outskirts of town and 5-10 minutes away from everything. I have friends on the south side and they seem to like it quite a bit.
If you want to live just outside of lethbridge, be prepared to spend some cash (somebody correct me if im wrong). as soon as you get about 15 minutes out, prices go down. I think some guys mentioned some good little towns, i grew up in a small town about 20 minutes out of lethbridge and loved it. It is alittle far though and love the convienience of living in the city.
As for jobs, everywhere seems to have a help wanted sign on the window. I work on a farm for the summer and we can never get enough guys, other farmers I talk to say the same thing. Depending on what your looking for, you could probably find somewhere to work quickly.
I think lethbridge is pretty great for hunting. Get outside of the city and theres WT and Mule deer running around. An hour and a half to the SE is decent antelope country, and an hour and a half to the west gets you into elk/bear/sheep country.
One word of warning, be prepared to deal with the wind. Especially in the spring and fall. (It does keep you warm in the winter though)