September Unemployment Rate Further Decreases to 2.7%

By October 7, 2022 November 2nd, 2022 News, News Releases 2022

Walkerton, ON (October 7, 2022) – In September, the unemployment rate for the Stratford-Bruce Peninsula Economic Region decreased by 1.1 percentage points to 2.7%, currently the lowest in Ontario. This represents the region’s lowest unemployment rate since December 2019. The provincial unemployment rate remained unchanged at 5.8%, both unadjusted for seasonality.

Overall net employment in the region decreased by 2,100, consisting of 900 full-time losses and 1,300 part-time losses.

The number of Goods-producing sector employees decreased significantly by net 4,100. The Construction sector experienced the biggest loss this month (-2,100) followed by Agriculture (-1,600). Manufacturing experienced a slight gain (+500).

Employment in the Services-producing sector increased by net 1,900. Many of these industries continue to see slow gains. Accommodation and food services experienced the largest gain (+1,300) whereas Wholesale and retail trade experienced the biggest loss (-1,000).

“With an aging workforce and an alarmingly low number of active job seekers; many local employers are facing long standing, and critical job vacancies.” Dana Soucie, Executive Director for the Four County Labour Market Planning Board says. “It is more important than ever to explore, understand and remove barriers being faced by job seekers who are currently not able to participate in the workforce.”

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 currently exceeds 2,600.

 

-30-

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.