​Unemployment rate drops to 3.6% in region, says labour market planning board

The unemployment rate for the Stratford-Bruce Peninsula Economic Region decreased by 0.6 percentage points to 3.6 per cent, in October. The provincial unemployment rate increased slightly by 0.2 percentage points to 6.2 per cent, both unadjusted for seasonality.

That’s the word from the Four County Labour Market Planning Board.

Although the region’s population for age 15 over, increased by 400, its labour force size shrank by 2,500, decreasing to 160,200 in October, from 162,700 in September. The size of population not participating in the labour force also increased by 2,900, bringing the participation rate down by one percentage point to 58.6 per cent.

One thousand, five hundred (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 per cent) in October.

With a loss of 2,100 employees, manufacturing experienced the biggest loss (-10.4 per cent), followed by construction (-1,600, -7.6 per cent).

On the other hand, forestry, fishing, mining, quarrying, oil and gas again experienced the biggest gain (+8.7 per cent), followed by agriculture (+500, +4.1 per cent) and utilities (+100, 1.3 per cent).

Employment in the services-producing sector increased by net 1,200 (+1.3 per cent).

With an additional 1,100 employees, transportation experienced the biggest gain (+42.3 per cent), followed by education (+1,500, +25.4 per cent) and business, building and other support services (+400, +9.3 per cent).

On the other hand, information, culture and recreation experienced the biggest loss of 1,100 employees last month (-20.4 per cent), followed by public administration (-700, -17.9 per cent) and accommodation and food services (-700, -8.3 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. This is updated regularly so visit often and create your account to track the job opportunities. The current number of job postings reached almost 2,800 postings.