UNEMPLOYMENT INCREASES SLIGHTLY TO 3.9%
Walkerton, ON (September 10, 2021) – In August, the unemployment rate for the Stratford-Bruce Peninsula Economic Region (ER) increased by 0.3 percentage points from 3.6% to 3.9%. Still, this unemployment rate was the lowest among economic regions in Ontario. At the same time, the provincial unemployment rate decreased to 8.6%, with both rates unadjusted for seasonality. Between July and August, the labour force decreased by 1,500 and unemployment increased by 400, which could be a reason for the increased unemployment rate.
Overall net employment in the region decreased by 1,800, with full-time losses (-2,700) and part-time gains (900). This employment loss has been the largest in 2021 so far and it could be caused by the seasonality of summer jobs.
The number of Goods-producing sector workers decreased by net 1,700. The main driving force came from negative losses in Manufacturing (-1,700).
Employment in the Services-producing sector also decreased by net 100. The greatest losses came from Business, building and other support services (-600) and Educational services (-1,300). While the greatest gain was in Other services (except public administration; 1,700), however, it could not offset the losses in other sub-sectors, thus resulting in a net loss of 100 jobs in the Services-producing sector.
“Many of the job losses could be attributed to students returning to school,” says Gemma Mendez-Smith, Executive Director of the Four County Labour Market Planning Board. “A decrease in the labour pool will certainly affect the already stressed labour supply for employers and efforts to grow the workforce remains a key priority for our region.” 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 around 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.