May Unemployment Rate Increases to 3.6%

By June 10, 2022 News, News Releases 2022

Walkerton, ON (June 10, 2022) – In May, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 0.3 percentage points to 3.6%, now the lowest in Ontario. The provincial unemployment rate remained unchanged at 5.6%, both unadjusted for seasonality.

Overall net employment in the region increased by 1,400, with full-time gains (+2,000) and part-time losses (-600).

The number of Goods-producing sector employees increased by net 2,100. The main driving force came from gains in Manufacturing (+1,000) and Utilities (+600).

Employment in the Services-producing sector decreased by net 700. Other services (except public administration) experienced the biggest losses (-1,200). Although Educational services experienced gains of 1,100, it could not offset the losses, which resulted in a net decrease of 700.

“Many job vacancies continue to be left unfilled as employers face barriers in attracting and retaining talent. Understanding how a chronically low unemployment rate affects this region will be a critical step to further workforce planning,” says Dana Soucie, Executive Director for the Four County Labour Market Planning Board.

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 is approximately 2,800.

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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.