June 2017 – Unemployment Rate Continues To Drop
Walkerton, ON (June 9, 2017) – The unemployment rate for the Stratford-Bruce Peninsula economic region in May declined 1.6% points to 4.5%, the lowest since January 2017. The decrease was mostly the result of fewer people searching for work (-3,700). At the same time, the unemployment rate in Ontario rose by 0.1% points to 6.4%.
Employment in the Stratford-Bruce Peninsula region declined by 1,100 in May, mostly the result of a decline in part-time work (-3,500) offset by a gain in full-time employment (+2,400).
Employment in the region’s service-producing sector fell by 4,000 in May, with declines primarily in Wholesale and retail trade (-2,700) and Accommodation and food service (-2,000). Employment gains were in Business, building and other support services (+1,400), Finance, insurance, real estate, rental and leasing (+600) and Professional, scientific and technical services (+500).
In contrast, employment in the region’s goods-producing sector increased by 2,900 in May, with the bulk of the increases in Manufacturing (+1,400) and Construction (+700). Employment losses were seen in Utilities (-200).
Favourable employment news includes the creation of between 50 to 60 jobs at a new Samsonite headquarters and warehouse facility behind the Festival City Marketplace Mall in Stratford. The anticipated opening date is in Spring 2018.
Kincardine’s 7 acres medical cannabis greenhouse facility is expecting to hire up to 300 people by 2019. With an investment of over $70 million, the company will continue hiring in a full range of positions in almost every department in the next six to eight months. RCM, a technology company in Kincardine, is expanding and is expected to hire 80 office staff and senior management personnel to support Bruce Power.
Rolls Royce Nuclear Division signed a multi-year agreement with Bruce Power. Its office in Port Elgin is still under construction and will generate between 10 to 15 new positions.
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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.