OCTOBER UNEMPLOYMENT RATE DECREASES TO 3.6%
Walkerton, ON (November 3, 2023) – In October, the unemployment rate for the Stratford-Bruce Peninsula Economic Region decreased by 0.6 percentage points to 3.6%. The provincial unemployment rate increased slightly by 0.2 percentage points to 6.2%, both unadjusted for seasonality.
Although the region’s 15 years and over population increased by 400, its labour force size shrank by 2,500, decreasing from 162,700 in September 2023 to 160,200 in October 2023. The size of population not participating in the labour force also increased by 2,900, bringing the participation rate down by 1 percentage point to 58.6%. 1,500 full-time employment losses and 100 part-time employment losses were reported last month, resulting in a total loss of 1,600 in the region’s overall employment size in October.
The number of Goods-producing sector employees decreased by net 2,700 (-4.3%) this month. With a loss of 2,100 employees, Manufacturing experienced the biggest loss this month (-10.4%), followed by Construction (-1,600, -7.6%). On the other hand, Forestry, fishing, mining, quarrying, oil and gas again experienced the biggest gain this month (+8.7%), followed by Agriculture (+500, +4.1%) and Utilities (+100, 1.3%).
Employment in the Services-producing sector increased by net 1,200 (+1.3%). With additional 1,100 employees, Transportation experienced the biggest gain this month (+42.3%), followed by Education (+1,500, +25.4%) and Business, building and other support services (+400, +9.3%). On the other hand, Information, culture and recreation experienced the biggest loss of 1,100 employees last month (-20.4%), followed by Public administration (-700, -17.9%) and Accommodation and food services (-700, -8.3%).
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 and create your account to track the job opportunities. Our current number of job postings reached almost 2,800 postings.
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.