April 2016 – Unemployment Rate Edges Up
Walkerton (April 8, 2016) – The unemployment rate for both the province and the Stratford-Bruce Peninsula economic region edged higher in March putting it at the highest level since September 2015.
Whereas Ontario’s rate increased .3%, from 6.6% to 6.9%, the local rate increased slightly more at .7%, 5.6% to 6.3%.
Employment remained the same at 142,100 in the local economic region over the past month, with job losses in part-time employment (-1,500) being offset with gains (+1,500) in full-time employment.
The Service-producing sector in our region saw an employment gain of 600 in March 2016. Monthly employment gains in Wholesale and retail trade (+500), Accommodation and food services (+600) and Educational Services and Finance, insurance, real estate (+400 each) were the key drivers for this sector.
The Goods-producing sector saw an employment loss of 600, with employment losses in all industries except for Utilities which saw a gain of 400. This gain was offset with losses in Construction (-500) and Manufacturing (-500).
“All this points to some stability in our local economy,” said Gemma Mendez-Smith, Executive Director of the Four County Labour Market Planning Board. “A recent CBC news report mentioned … ‘the economy is moving along tickety-boo’… and it appears the same for us.”
A recent announcement by the Ministry of Tourism, Culture and Sport to invest $3.3 million in the reconstruction of Huron County’s Blyth Memorial Community Hall is part of the provincial government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs.
“With this investment we will see a growth in local jobs,” added Mendez-Smith.
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Note: Statistics Canada’s monthly Labour Force Survey provides estimates of employment and unemployment, based on a sampling of households in communities. Stratford-Bruce Peninsula figures represent a three-month moving average, unadjusted for seasonality.