February 2020 – Local Unemployment Rate Increases in January
Walkerton, ON (February 7, 2020) – In January, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 1.4 percentage points to 4.1%. At the same time, the provincial unemployment rate increased slightly, by 0.2 percentage points, to 5.0%.
Overall employment in the region decreased by 1,600, with full-time gains (+400) offset by part-time losses (-2,000).
The number of Goods-producing sector employees increased by 1,900 in the Stratford-Bruce Peninsula Economic Region. The greatest gains were in Construction (+2,200) and Manufacturing (+500). Employment in the Services-producing sector decreased by 3,500. The greatest losses were in Healthcare and social assistance (-1,800), Wholesale and retail trade (-1,300), and Business, building and other support services (-900).
“Although the unemployment rate has gone up in the past month, our region continues to have extremely low unemployment. With a vibrant economy, this can cause challenges for business owners with vacancies to fill,” says Gemma Mendez-Smith, Executive Director of the Four County Labour Market Planning Board. “The good news is that we have opportunities for residents of our region and those who may wish to move here.”Data from the Planning Board’s annual EmployerOne Survey, highlighting employer experiences and workforce needs, will be released in March 2020 at: www.planningboard.ca.
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.