August 2015 – Local Unemployment Rate Rises
Walkerton (August 7, 2015) – After a consistent drop in the unemployment rate since the start of the year, the Stratford-Bruce Peninsula labour force experienced its first unemployment rate increase in July . Locally the unemployment rate climbed .9% from 4.5 to 5.4, still below the provincial average of 6.8% which was a .1% rise from June.
Both full-time and part-time employment dipped lower last month, with full-time dropping 3.5% and part-time dropping .2%.These job losses were felt in Trade (wholesale and retail), which had the largest loss of 1,900 jobs, while Education was down 1,400 jobs, Finance, insurance and real estate down 800 jobs, and Accommodation and food services down 500 jobs. Compared to last year’s July economic activity, these job losses could be considered significant.
“Job losses in education were not surprising since local layoffs were anticipated. However, job losses in the other sectors indicates how unpredictable the local economy can be and highlights why we need to remain flexible and keep our skills transferable, ” says Gemma Mendez-Smith, executive director of the Four County Labour Market Planning Board.
On a more positive note, the March Quarterly Labour Market Bulletin’s analysis of the region demonstrated strength with the opening of Boston Pizza in Port Elgin and Sobeys Inc. in Stratford, combined with several infrastructure projects. Giant Tiger Stores Limited in Hanover and Talisman Mountain Springs Inn in Kincardine are expected to open later this year.
The Four County Labour Market Planning Board, one of 26 non-profit organizations in Ontario that play a leadership role in labour force planning, continues to with businesses and community groups to address the most pressing concerns, deliver the most up-to-date information, and the catalyst for building a strong economic climate through community activities.
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Note: Statistics Canada’s monthly Labour Force Survey provides estimates of employment andunemployment, based on a sampling of households in communities. Stratford-Bruce Peninsula figures represent a three-month moving average, unadjusted for seasonality.