UNEMPLOYMENT DECREASES AGAIN TO 3.6%
Walkerton, ON (August 6, 2021) – In July, the unemployment rate for the Stratford-Bruce Peninsula Economic Region (ER) decreased by 0.2 percentage points from 3.8% to 3.6%. This unemployment rate was the lowest among economic regions in Ontario. At the same time, the provincial unemployment rate decreased to 8.9%, with both rates unadjusted for seasonality. Between June and July, the labour force increased by 3,300 people with the participation rate also increasing to 63.8% from 62.6%.
Overall net employment in the region increased by 3,500, with full-time gains (3,200) and part-time gains (300). This employment increase was the largest in 2021, which shows a continued recovery of the local labour market, highly possibly caused by Stage 2 reopening and its relaxing rules.
The number of Goods-producing sector employees increased by net 1,400. The main driving force came from positive gains in Agriculture (1,600) and Manufacturing (900). The greatest loss in Goods-producing sector was in Construction (-800).
Employment in the Services-producing sector also increased by net 2,100. The greatest gains came from Wholesale and retail trade (2,300), which was its second consecutive increase in 2021. These gains, plus gains from Other services (except public administration; 1,400), greatly offset the losses in other sectors such as Educational services (-1,600), thus resulting in a net gains of 2,100 jobs in the Services-producing sector.
“Although we see an increasing labour pool and employment growth, the region is still in need of workers,” says Gemma Mendez-Smith, Executive Director of the Four County Labour Market Planning Board. “Employers from our top employment sectors like manufacturing, construction and agriculture continue to echo the absolute need for workers in their respective fields,” she continues.
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 to see the job opportunities. Our current number of job posting is over 2,300.
Note: Statistics Canada’s monthly Labour Force Survey (LFS) provides estimates of employment and unemployment, based on a sampling of households in communities.