January 2016 – Local Unemployment Decreases
Walkerton (Jan. 8, 2016) – The Stratford-Bruce Peninsula economic region matched the province’s change in unemployment rate by dropping .2%, from 5.9% in November 2015 to 5.7% in December 2015. Our region’s rate at the end of the year was still behind the province’s unemployment rate of 6.2%.
While the province’s participation remained relatively unchanged, between November (60.7%) and December (60.8%), our region saw a significant increase in participation, November (57.7%) and December (59.3%).
With only a slight drop in the unemployment rate, from 5.9% to 5.7%, the Stratford-Bruce Peninsula economic region still experienced a job growth of 3,900 in December. The majority of these job gains were found in the Services-producing sector, with gains of 1,100 jobs in each of Accommodation and food services and Professional, scientific and technical serves. Decreases in jobs were seen in Health care and social assistance (-1,700) and in Manufacturing (-900). Although there is fluctuation month to month, employment in Manufacturing is slightly higher than the year before, while Health care and social assistance remained stable.
“As Health care and social assistance and Manufacturing are two major employment sectors in the region, we can remain confident both these sectors continue to offer employment opportunities for the local workforce,” said Gemma Mendez-Smith, executive director of the FCLMPB.
Following labour market events is one of the keys to understanding where local work opportunities may be. Labour market events and announcements, like the construction of a new Foodland grocery store in Wiarton and the expansion of Hayashi Canada Inc.’s automotive parts plant in Stratford, are positive developments in the region.
Employers in Bruce, Grey, Huron and Perth counties can help the Four County Labour Market Planning Board understand the region’s workforce needs by completing an EmployerOne Survey available January 1 to 31, 2016. Employers can visit www.planningboard.ca/survey to complete the survey. “Using the employer input we can form a tactical response to workforce needs with a sense of urgency to support continued economic stability and growth,” she said.
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Note: Statistics Canada’s monthly Labour Force Survey provides estimates of employment andunemployment, based on a sampling of households in communities. Stratford-Bruce Peninsula figures represent a three-month moving average, unadjusted for seasonality.