February Unemployment Rate Increases to 4.6%

By March 10, 2023 March 21st, 2023 News, News Release 2023, Unemployment Rate

Walkerton, ON (March 10, 2023) – In February, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 0.2 percentage points to 4.6%. The provincial unemployment rate remained unchanged at 5%, both unadjusted for seasonality.

Overall net employment in the region decreased by 1,700, with 2,100 full-time losses and 400 part-time gains. The region’s labour force size decreased from 162,300 people in January 2023 to 160,700 people in February 2023.

The number of Goods-producing sector employees decreased once again this month by net 100. The Manufacturing sector experienced the biggest loss this month (-1,600) followed by Construction (-100). Utilities experienced the greatest gain this month (+1,400) followed by Agriculture (+400).

Employment in the Services-producing sector decreased by net 1,600. Professional, scientific and technical services experienced the biggest loss (-2,300) followed by Transportation and warehousing (-1,200). Wholesale and retail trade experienced the largest gain once again this month (+1,500) followed by Healthcare and social assistance (+1,100).

“We continue to remain one of the lowest unemployment rates in Ontario; creating a very tight labour market for our economic region” says Dana Soucie, Executive Director for the Four County Labour Market Planning Board. “We have analyzed the demographics that makes up the unemployment rate and released the 2022-23 report “Impacts of Low Unemployment” which can be accessed on our website at www.planningboard.ca/reports”.

Current job postings for the Bruce, Grey, Huron, Perth region have increased overtime since the pandemic and can be found at: www.connect2JOBS.ca. This is updated regularly so visit often and create your account to track the job opportunities. Our current number of job postings exceeds 3,000 postings – up 100 from last month.






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.