JUNE UNEMPLOYMENT RATE DECREASES TO 2.4%
Walkerton, ON (July 5, 2024) – In June, the unemployment rate for the Stratford-Bruce Peninsula Economic Region continued to decrease by 0.6 percentage points to 2.4%. This is the lowest the unemployment rate has dipped since November 2019. Meanwhile, the provincial unemployment rate remained unchanged at 6.9%, both unadjusted for seasonality.
The Region’s overall population increased by +400 in June whereas the labour force size increased marginally by +100, resulting in the size of population not participating in the labour force to increase by +300. The participation rate remained unchanged from last month at 59.8%. The Region experienced an increase of approximately +1,200 in total employment size, with +2,600 full-time employment gains and -1,400 part-time employment losses.
The number of Goods-producing sector employees decreased marginally by 0.9% (-500) this month. Forestry, fishing, mining, quarrying, oil and gas experienced the biggest percentage loss this month (-400, -17.4%), followed by Manufacturing (-900, -4.3%) and Construction (-300, -1.7%). On the other hand, Utilities experienced the biggest percentage gain (+700, +10.0%), followed by Agriculture (+500, +5.4%).
Employment in the Services-producing sector increased by 1.6% (+1,600) this month. With +1,600 employment increase, Professional, scientific and technical services experienced the biggest percentage gain this month (+21.1%), followed by Accommodation and food services (+1,000, +12.0%) and Finance, insurance, real estate, rental and leasing (+1,100, +11.5%). However, Business, building and other support services (-700,-11.3%) experienced the biggest percentage loss this month, followed by Educational services (-500, -6.9%) and Health care and social assistance (-1,200, -5.4%).
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 reaches 2,542.
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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. Numbers may not sum to total due to rounding.
