January 2020 – Local Unemployment Rate Continues To Be Lowest In Ontario
Walkerton, ON (January 10, 2020) – In December, the unemployment rate for the Stratford-Bruce Peninsula Economic Region rose slightly to 2.7%. At the same time, the provincial unemployment rate decreased slightly, from 4.9% to 4.8%. Stratford-Bruce Peninsula continues to hold the lowest unemployment rate in the province. In 2019, the annual unemployment rate for Stratford-Bruce Peninsula was 4.3%, which was an increase from 3.7% in 2018, but remains the lowest annual unemployment rate in Ontario.
Overall employment in the region decreased by 3,100, with both full-time (-1,900) and part-time (-1,200) losses.
The number of Goods-producing sector employees increased by 1,400 in the Stratford-Bruce Peninsula Economic Region. The greatest gains were in Construction (+2,100), offset by losses in Manufacturing (-600) and Agriculture (-300). Employment in the Services-producing sector decreased by 4,500. The greatest losses were in Wholesale and retail trade (-1,600), Business, building and other support services (-1,300), and Educational services (-800).
“With continually low unemployment and employers reporting hard-to-fill positions across all sectors in our region, it is imperative that we address workforce shortages by continuing to invest in both retention and attraction strategies,” says Gemma Mendez-Smith, Executive Director of the Four County Labour Market Planning Board. Mendez-Smith reminds local employers that the annual EmployerOne Survey will be open until January 31, 2020. “This local labour market data is collected on an annual basis to understand employers’ experiences and look towards solutions to our labour shortage.” To complete this short survey, please go to: https://www.surveymonkey.com/r/FCLMPB2020
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.