September unemployment rate increases to 4.3%, says labour market planning board
October 14, 2024
In September, the unemployment rate for the Stratford-Bruce Peninsula Economic Region increased by 0.6 percentage points to 4.3 per cent, the largest percentage increase of all regions in Ontario in two consecutive months, while the region’s unemployment rate remains the second lowest in the province.
Meanwhile, the provincial unemployment rate decreased by 0.1 percentage point to 7.5 per cent, both unadjusted for seasonality.
That’s the word from the Four County Labour Market Planning Board.
Last month, the region’s overall population increased by 400 but the labour force size decreased by 300 to 172,800, resulting in the size of population not participating in the labour force to increase by 700. This also brought the participation rate down by 0.2 percentage points to 62.3 per cent.
The region experienced seasonal decrease in overall employment resulted from approximately 1,300 full-time and 200 part-time employment losses.
The number of goods-producing sector employees increased by 3.8 per cent (+2,400). All of the goods-producing sector experienced employment gains in September. In particular, utilities once again experienced the biggest percentage gain (+900, +8.3 per cent), followed by manufacturing (+1,100, +5.6 per cent) and construction (+500, 2.8 per cent).
On the other hand, employment in the services-producing sector decreased by 3.7 per cent (-3,800). With a 1,800 employment drop, finance, insurance, real estate, rental and leasing experienced the biggest percentage loss in September (-18.9 per cent), followed by public administration (-500, -10.6 per cent) and transportation and warehousing (-500, -10.4 per cent).
However, professional, scientific and technical services experienced 1,000 employment gains (+7.3 per cent), followed by other services except public administration (+300, +4.5 per cent) and business, building and other support services (-100, +2.2 per cent).
Current job postings for the Bruce, Grey, Huron, Perth region have increased over time since the COVID-19 pandemic and can be found at www.connect2JOBS.ca. The current number of job postings reaches 2,120.
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