Tuesday, July 16, 2024

November Unemployment Rate Increases to 3.7%

In November, the unemployment rate for the Stratford-Bruce Peninsula Economic Region, which includes the Municipality of Meaford, increased slightly by 0.1 percentage points to 3.7%. The provincial unemployment rate decreased by 0.5 percentage points to 5.7%, both unadjusted for seasonality.

In November, the region’s overall population and labour force size increased by +300 simultaneously. The size of population not participating in the labour force remained unchanged, the participation rate also remained unchanged. Although we saw a total increase of +200 in employment size, the number was a result of -1,500 full-time employment losses compensated by +1,700 part-time employment gains.

The number of Goods-producing sector employees decreased by net 1,800 (-3.0%) this month. Construction experienced the biggest loss this month (-1500, -7.9%), followed by Manufacturing (-1,300, -7.2%). Forestry, fishing, mining, quarrying, oil and gas again experienced the biggest gain this month (+500, +20.7%), followed by Agriculture (+600, +4.7%).

Employment in the Services-producing sector increased by net 2,000 (+2.1%). Transportation experienced the biggest gain this month (+1200, +32.4%), followed by Education (+1,600, +21.6%) and Health care and social assistance (+1,700, +12.2%). Information, culture and recreation experienced the biggest loss (-900, -20.9%), followed by Public administration (-600, -18.8%) and Professional, scientific and technical services (-900, -9.2%).

Current job postings for the Bruce, Grey, Huron, Perth region have increased over time since the pandemic and can be found at www.connect2JOBS.ca. The current number of job postings reached over 7,000.

We are encouraged by the increases in the Health care and Social assistance and Agriculture sectors and will continue to monitor these changes,” said Dana Soucie, Executive Director for the Four County Labour Market Planning Board. “Although we see decreases in the Goods-producing sector this is expected due to seasonality.”

Popular this week

Latest news