May 2016 – Unemployment Rate Edges Lower
Walkerton (May 6, 2016) – While the unemployment rate for the province rose slightly, from 6.9% to 7%, the Stratford-Bruce Peninsula economic region edged lower from 6.3% to 6.2% in April.
While part-time employment stayed the same at 32,200, full-time employment losses of 2,000, from 109,900 to 107,900, accounts for the employment number dropping from 142,100 to 140,000.
The Goods-producing sector in our region saw an employment loss of 500 in April 2016, with employment losses in all industries except for Utilities which saw a second monthly gain of 700. This gain was offset with the biggest losses in Agriculture (-500) and Construction (-300).
Accommodation and food services saw the highest gain in employment with +1,200, followed by gains in Professional, scientific and technical services +400 and Finance, insurance, real estate, rental and leasing and Business, building and other support services both with +300 in the Services-producing sector. Other services (except public administration) saw the largest loss of (-900).
Recent economic announcements in the local region include expansion of the Beech Street Station Restaurant in Goderich, which expects to add 50 employees, and plans for a phase two in the development of Kincardine’s Marriott Hotel Town Place Suites. The opening of AMMCan, in Kincardine, also adds a positive outlook for jobs in the region.
In the first quarter Hiring Trends report (January to March), derived from Vicinity Job’s online reporting portal, the region saw a total of 1,897 job postings with Perth County seeing the most job postings.
Following labour market events is key to helping job seekers understand where the opportunities (short, medium, long term) might be in the region’s local communities.
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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.