APRIL UNEMPLOYMENT RATE DECREASES TO 3.5%
Walkerton, ON (May 10, 2024) – In April, the unemployment rate for the Stratford-Bruce Peninsula Economic Region decreased by 0.6 percentage points to 3.5%. This is the lowest the unemployment rate has dipped since November 2022. Meanwhile, the provincial unemployment rate increased by 0.1 percentage point to 6.7%, both unadjusted for seasonality.
In April, the Region’s overall population increased by +400, whereas the labour force size increased by +1,000 and the size of population not participating in the labour force decreased by +600. Thus, the participation rate increased slightly by 0.2 percentage points to 60.2%. The Region also experienced an increase of approximately +2,000 in total employment size. The increase was a result of about +3,200 full-time employment gains and -1,200 part-time employment losses this month.
The number of Goods-producing sector employees increased minimally by 0.2% this month. Forestry, fishing, mining, quarrying, oil and gas experienced the biggest percentage gain (+200, +10.5%), followed by Construction (+700, +4.2%). However, Agriculture experienced another loss this month (-1,300, -10.8%).
Employment in the Services-producing sector increased by 1.9% this month. With +800 employment increase, Transportation and warehousing experienced the biggest percentage gain this month (+16.0%), followed by Finance, insurance, real estate, rental and leasing (+400, +5.0%) and Educational services (+300, +4.0%). On the other hand, Professional, scientific and technical services experienced the biggest percentage loss this month (-300, -4.3%), followed by Information, culture and recreation (-100, -2.7%) and Accommodation and food services (-100, -1.3%).
Current job postings for the Bruce, Grey, Huron, Perth region have increased overtime since the pandemic and can be found at www.connect2JOBS.ca. The current number of job postings exceed 2,400.
-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. Numbers may not sum to total due to rounding.
