November 2016 – Unemployment Rate Continues To Decline
Walkerton, ON (November 4, 2016)-The unemployment rate continued to decline for the StratfordBruce Peninsula economic region from 4.4% in September to 3.9% in October. The province also saw a decline of .3% from 6.9% to 6.6%.
Job numbers in our region jumped by 4,000, from 146,300 in September to 150,300 in October. This growth was mainly driven by gains 0f 3,800, with a slight increase in full-time jobs.
The Goods-producing sector saw a slight increase in jobs (+300) while the service-producing sector saw an increase of 3,700 jobs.
The Goods-producing sector saw job gains (+700) in both Agriculture and Construction, while Manufacturing took another hit with 1,400 losses and Utilities lost 300 jobs. Numbers for this sector will not tally because of suppression of data in Forestry, fishing, mining, quarrying, oil and gas.
In the Service-producing sector, Healthcare and social assistance rebounded with job gains of 1,000 after the previous month’s loss of 900 jobs. Job gains were also seen in Wholesale and retail trade (+2,200) Educational services (+1,100) and Accommodation and food services (+1,000). Job losses came in Business, building and other support services (-600), Finance, scientific and technical services (-500), and Other services (-600).
According to the Government of Canada’s labour market September 2016 bulletin, the region has been seeing a rebound in local service industry developments. This continues with the announcement of new tenants at Goderich’s Suncoast Mall, the opening of The Amber Hotel in Grand Bend and construction of the Chapman House hospice in Owen Sound.
“Two positives we can see from the October employment numbers is that our labour force grew by 3,300 as the unemployment rate fell,” said Gemma Mendez-Smith, executive director at the Four County Labour Market Planning Board.
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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.