Thursday, June 13, 2024

May Unemployment Rate Returns To 5.9%

In May, the unemployment rate for the Stratford-Bruce Peninsula Economic Region, which includes the Municipality of Meaford, decreased slightly by 0.1 percentage points to 5.9%. The provincial unemployment rate increased by 0.3 percentage points to 5.4%, both unadjusted for seasonality.

The region’s labour force size increased from 166,000 people in April to 167,000 people in May 2023. The size of population not participating in the labour force also decreased by 700,
bringing the participation rate up by 0.3 % to 61.5%. Meanwhile, overall net employment in the region increased by 1,100, with 1,100 full-time and 100 part-time gains respectively.
The number of Goods-producing sector employees increased this month by net 3,500 (+5.7%).

With 2,900 more employees, Construction experienced the greatest gain again this month
(+14.6%), followed by Manufacturing (+800, 3.8%). Agriculture is the only Goods-producing
sector that experienced loss this month (-100, -2.0%).

Employment in the Services-producing sector decreased by net 2,300. With a decrease of 1,900 employees, Educational Services experienced the biggest loss this month (-16.0%) followed by Transportation and Warehousing (-600, -15.0%). Other Services (except Public Administration) experienced the largest gain this month (+1,000, +29.4%) followed by Public Administration (+400, +10.5%) and Accommodation and Food Services (+400, +8.7%).

Current job postings for the Bruce, Grey, Huron, Perth region can be found at www.connect2JOBS.ca. This is updated regularly so visit often and create your account to track the job opportunities. Our current number of job postings reached 2,700 postings.

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