February 2017 – Unemployment Rate Rises
Walkerton, ON (February 10, 2017) – The unemployment rate in the Stratford-Bruce Peninsula economic region rose 1.4% from 3.8% (December) to 5.2% (January), while the province’s unemployment rate had a smaller increase of .3% from 5.7% to 6%.
Both the labour force and the total number employed dropped in our economic region. The overall labour force in December was 160,000, dropping to 159,200 in January, and the total number employed dropped from 154,000 to 150,900. Most of the job losses can be attributed to the decline in tourism and slow-down in agriculture throughout the winter months.
The Goods-producing sector saw losses (-1,100) in Wholesale and retail trade and Accommodation and Food services respectively, followed by Information, culture and recreation (-900), Business, building and other support services (-500) and Health Care and social assistance (-400). Professional, scientific and technical services and Educational services gained (+600 respectively), followed closely by Public administration (+500).
The Services-producing sector saw employment losses in Agriculture (-1,200), Construction (-200) and Manufacturing (-600), with employment gains in Utilities (+800).
While Bruce Power continues to hire to meet their expansion needs, recent announcements include the September 2017 closing of Brick Brewery’s Formosa site, affecting 18 employees, the construction of a Best Western hotel and conference centre in Goderich, and a $1.8 million investment into enhancing waterfront facilities at Port Elgin and Southampton beaches.
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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.