DECEMBER UNEMPLOYMENT RATE INCREASES TO 3.6%
Walkerton, ON (January 10, 2025) – In December, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 0.4 percentage points to 3.6%. The Region’s unemployment rate is now the lowest in the province. Meanwhile, the provincial unemployment rate remained unchanged in December at 6.8%, both unadjusted for seasonality.
In December, the Region’s overall population increased by +400 and the labour force size increased by +700 to 170,000. This also brought the Region’s participation rate up slightly by 0.1 percentage point to 61%. The Region experienced a slight increase of +100 in overall employment with approximately -3,400 full-time losses and +3,500 part-time gains.
The number of Goods-producing sector employees further decreased by 2.8% (-1,800) in December, with the biggest percentage loss in the Agriculture sector (-1,600, -12%). Manufacturing losses -900 employment (-4.6%), followed by Utilities (-300, -2.9%). On the other hand, employment in Construction increased again this month by 600 people (+3%).
Employment in the Services-producing sector saw increases of 1.9% (+1,900) this month. With +800 additional employment, Information, culture and recreation experienced the biggest percentage gain (+15.7%), followed closely by Educational services (+700, +12.5%). Wholesale and retail trade (+1,600, +8.6%) Public administration (+100, +2.6%) and Transportation and warehousing (+100, +2.5%) also experienced employment gains in December. However, Finance, insurance, real estate, rental and leasing saw the biggest percentage loss in employment (-600, -9.5%), followed by Other services except public administration (-700, -8.6%) and Business, building and other support services (-300, -7.5%).
“The unemployment rate has slightly increased showing some positive signs” says Dana Soucie, Executive Director for the Four County Labour Market Planning Board. “However, we have moved into the lowest rate in Ontario and are still seeing pockets of in demand occupations going unfilled in certain areas and sectors of the Region”
Current Job postings for the Bruce, Grey, Huron, Perth region have increased overtime since the pandemic and can be found at www.connect2JOBS.ca. The current number of job postings reaches 1,461.
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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. Numbers may not sum to total due to rounding.
