MARCH UNEMPLOYMENT RATE INCREASES TO 5.9%
Walkerton, ON (April 6, 2023) – In March, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 1.3 percentage points to 5.9%. This represents the highest monthly unemployment rate in our region since April 2021. The provincial unemployment rate increased by 0.3 percentage points to 5.3%, both unadjusted for seasonality.
Overall net employment in the region increased by 700, with 1,700 full-time gains and 1,000 part-time losses. The region’s labour force size increased from 160,700 people in February 2023 to 163,700 people in March 2023.
The number of Goods-producing sector employees increased this month by net 1,900. Utilities experienced the greatest gain once again this month (+1,700) followed by Construction (+1,400). The Manufacturing sector experienced the biggest loss this month (-700) followed by Agriculture (-200).
Employment in the Services-producing sector decreased by net 1,300. Professional, scientific and technical services experienced the biggest loss once again this month (-2,600) followed by Accommodation and food services (-2,200). Wholesale and retail trade experienced the largest gain once again this month (+2,400) followed by Healthcare and social assistance (+2,300).
“We have seen positive increases in the Goods-producing sector this month and although our unemployment rate has experienced an increase we continue to see losses in Services- producing sector” says Dana Soucie, Executive Director for the Four County Labour Market Planning Board. “We will continue to monitor these changes as we investigate the migration trends and how it relates to our ability to fill vacancies for the hardest hit sectors”.
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 exceeds 3,100 postings.
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.