The local unemployment rate in the Stratford-Bruce Peninsula Economic Region continues to decrease.
The Four County Labour Market Planning Board says in its latest release that local unemployment in the region decreased by 1 percent in November to 5.4 percent, which continues to occupy the lowest rate in the province. At the same time, the provincial unemployment rate decreased by 1.2 percent to 8.7 percent.
Overall net employment in the region increased by 5,700 with both full-time gains (+1,000) and part-time gains (+4,800). The number of Goods-producing sector employees increased by 2,300 with the greatest increases in Construction (+2,200) and Agriculture (+1,100), which were off-set by smaller losses in other sectors. Employment in the Services-producing sector increased by 3,300. The greatest increases were in Wholesale and retail trade (+3,100) and Other services (except public administration) (+1,200). The greatest losses were in Healthcare and social assistance (-2,300).
“Compared to last month where we saw a loss of full-time positions, November’s data shows a significant gain in full-time employment which is a positive sign for the local economy,” says Gemma Mendez-Smith, Executive Director of the Planning Board. “We are optimistic that these data are continuing to trend towards positive economic recovery with full-time job gains and a steadily decreasing unemployment rate.”
The Planning Board has recently completed a survey designed to assess the ongoing impact of COVID-19 on the local workforce. Results will be available in early 2021.
