December 2015 – Decrease in Unemployment Rate Changes the Previous Trend
Walkerton (Dec. 4, 2015) – The unemployment rate fell for both the Stratford-Bruce Peninsula economic region and the province in November 2015. While the local region experienced a .2% drop in the unemployment rate, 6.1% to 5.9%, the province saw a slightly higher drop of .4%, from 6.8% to 6.4%.
In the region, employment fell (-1,100) from 134,600 in October 2015 to 133,500 in November 2015, with a small increase (+600) in part-time work and a decrease of (-1,700) in full-time work.
Drops in both the region’s unemployment rate and participation rate (the number of labour force participants) partly explains the drop in the employment numbers. The participation rate fell from 58.3% to 57.7%.
An increase in Construction (+1,400) contributed to the additional 300 jobs gained in the region’s Goods–producing sector over the past month. Recent announcements for planned expansion of Hayashi Canada Inc. in Stratford and a new Foodland in Wiarton, along with construction of the new Marine Emergency Duties and Training and Research Centre at Georgian College in Owen Sound, will likely see continued growth in jobs. This increase in the Good’s- producing sector was offset with losses in Manufacturing (-1,500) over the past month.
The Service-producing sector, including Educational services, Health care and social assistance and Accommodation and Food, lost 1,400 jobs. This loss, from 20,900 to 18,100, can mainly be attributed to 2,800 less people working in Health care and social assistance. Additional losses of 400 jobs each were in Transportation and warehousing, Educational services and Information, culture and recreation.
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 work 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.