LOCAL UNEMPLOYMENT RATE CONTINUES TO DECREASE
Walkerton, ON (December 4, 2020) – In November, the unemployment rate for the Stratford-Bruce Peninsula Economic Region decreased by 1.0 percentage points to 5.4%, continuing to occupy the lowest rate in the province. At the same time, the provincial unemployment rate decreased by 1.2 percentage points to 8.7%. All rates are unadjusted for seasonality.
Overall net employment in the region increased by 5,700 with both full-time gains (+1,000) and part-time gains (+4,800).
The number of Goods-producing sector employees increased by 2,300 with the greatest increases in Construction (+2,200) and Agriculture (+1,100), which were off-set by smaller losses in other sectors.
Employment in the Services-producing sector increased by 3,300. The greatest increases were in Wholesale and retail trade (+3,100) and Other services (except public administration) (+1,200). The greatest losses were in Healthcare and social assistance (-2,300).
“Compared to last month where we saw a loss of full-time positions, November’s data shows a significant gain in full-time employment which is a positive sign for the local economy,” says Gemma Mendez-Smith, Executive Director of the Planning Board. “We are optimistic that these data are continuing to trend towards positive economic recovery with full-time job gains and a steadily decreasing unemployment rate.”
The Planning Board has recently completed a survey designed to assess the ongoing impact of COVID-19 on the local workforce. Results will be available in early 2021.
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.