UNEMPLOYMENT RATE INCREASED TO 7.1% IN FEBRUARY
Walkerton, ON (March 12, 2021) – In February, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 0.8 percentage point to 7.1%. At the same time, the provincial unemployment rate increased to 9.3%, both unadjusted for seasonality.
Overall net employment in the region decreased by 1,500, with full-time losses (-1,400) and part-time losses (-200). This employment change was a direct impact of the second provincial lockdown and employers continue to grapple with decisions on how to manage their businesses in these uncertain times.
The number of Goods-producing sector employees increased by net 800. The main driving force came from significant gains in Utilities (1,900) and Manufacturing (1,000), which offset the losses in Agriculture (-1,000) and Construction (-1,000).
Employment in the Services-producing sector, however, decreased by net 2,400. The greatest losses were in Wholesale and retail trade (-2,900) and Other services (except public administration; -1000) while the most gains came from Educational services (900) and Health care and social assistance (1,200). The gains in these sectors could not offset the losses, which resulted in net losses of 2,400.
“The Services-producing sector continues to be battered by the closures due to the pandemic at the same time some industries in the Goods-producing sector are on a rebound,” says Gemma Mendez-Smith, Executive Director of the Four County Labour Market Planning Board. “We need to ensure we have recovery strategies in place for either reskilling or training the workforce for the new local emerging economy. We know there will be change.”
Current job postings for the Bruce, Grey, Huron, Perth region can be found at: www.connect2JOBS.ca. This is updated regularly so visit often to see the job opportunities.
Note: Statistics Canada’s monthly Labour Force Survey (LFS) provides estimates of employment and unemployment, based on a sampling of households in communities. The LFS data was rebased in January 2021 to match the 2016 Census geography and population, so current analysis may not match previous data because of this methodological change. Stratford-Bruce Peninsula figures represent a three-month moving average, unadjusted for seasonality.