MARCH UNEMPLOYMENT RATE DECREASES TO 4.1%
Walkerton, ON (April 5, 2024) – In March, the unemployment rate for the Stratford-Bruce Peninsula Economic Region decreased by 0.4 percentage points to 4.1%. Meanwhile, the provincial unemployment rate increased by 0.5 percentage point to 6.6%, both unadjusted for seasonality.
In March, the Region’s overall population increased by +400, whereas the labour force size increased by +3,400 and the size of population not participating in the labour force decreased by +3,000. Thus, the participation rate increased by 1.2 percentage points to 60%. The Region also experienced an increase of approximately +3,900 in total employment size. The increase was a result of about +2,700 full-time employment gains and +1,300 part-time employment gains this month.
The number of Goods-producing sector employees increased by 0.5% this month. Manufacturing experienced the biggest gain again (+1,300, +6.2%), followed by Construction (+700, +4.3%). However, Forestry, fishing, mining, quarrying and oil experienced the biggest percentage loss again (-400, -17.4%), followed by Utilities (-100, -12.7%) and Agriculture (-500,-4.0%).
Employment in the Services-producing sector increased by 3.7% this month. With 1,200 employment increase, Information, culture and recreation experienced the biggest percentage gain this month (+48.0%), followed by Business, building and other support services (+1,300, +24.5%) and Health care and social assistance (+1,600, +7.6%). On the other hand, Other services (except Public Administration) experienced the biggest percentage loss this month (-700, +10.7%), followed by Professional, scientific and technical services (-300, -4.1%) and Public Administration (-100, -2.4%).
“It is positive news for our region this month with a large increases in the participation levels and employment” says Dana Soucie, Executive Director for the Four County Labour Market Planning Board. “It is very encouraging to see the Service Producing Sector make significant gains” .
Current job postings for the Bruce, Grey, Huron, Perth region have increased overtime since the pandemic and can be found at www.connect2JOBS.ca. The current number of job postings reached almost 2,000.
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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. Numbers may not sum to total due to rounding.
