Unemployment sees slight increase in the region in January

The local unemployment rate in the Stratford to Bruce Peninsula economic region saw a slight uptick in January.

According to numbers from the Four County Labour Market Planning Board, the January unemployment rate in the area went up 0.8 percentage points to land at 4.4 per cent overall. The provincial unemployment rate saw an even lesser rise of 0.1 percentage points, landing at 5 per cent, with both numbers unadjusted for seasonality.

Overall net employment in the region decreased by 4,500, with 3,800 full-time losses and 700 part-time losses. The region’s labour force size decreased from 165,400 people in December 2022 to 162,300 people in January 2023.

The number of goods-producing sector employees decreased once again last month by a net of 1,100. The construction sector experienced the biggest loss (-1,800) followed by manufacturing (-700). Agriculture experienced another gain in January (+1,600). Employment in the services-producing sector decreased by a net of 3,400, the largest monthly decrease seen in the past year. Transportation and warehousing experienced the biggest loss (-1,300) followed by information, culture and recreation (-1,200).

Educational services experienced the largest gain once again last month (+900).

“The most notable loss this month was in the Services-producing sector as well as full-time positions” said Dana Soucie, Executive Director for the Four County Labour Market Planning Board. “We will be monitoring the trends and working with our stakeholders to support workforce development projects to address these labour shortage”.

Current job postings for the Bruce, Grey, Huron, Perth region have increased over time since the pandemic and can be found at: http://www.connect2JOBS.ca.

Read original story from Midwestern Ontario News – BlackburnNews.com