Bill Smith / CC
The unemployment rate in the area the includes Bruce and Grey counties declined to 4.3 per cent in October.
That’s down from 4.8 per cent in September. The Four County Labour Market Planning Board says the Stratford-Bruce Peninsula region now has the lowest unemployment rate in Ontario after adding more than 4,700 new full-time jobs last month, as well as 1,700 part-time positions.
The total size of the regional workforce also increased by about 5,900 people, and the labour participation rate was up by two percentage points — to 60.6 percent. The labour force participation rate measures everyone of working age — 15 or older — who has a job or is looking for one, against the total eligible working age population.
“This month’s report is very positive with a huge gain in overall employment,” says Four County Labour Market Planning Board Executive Director Dana Soucie in a release. “The increase in participation rate was a welcome and positive sign for our region.”
The construction (+3,100), healthcare and social assistance (+2,200), educational services (+1,300) and agriculture sectors led the job gains in the Stratford-Bruce Peninsula region last month. There were job losses in the manufacturing (-3,800), professional & scientific services (-800), finance, insurance & real estate (-400) and food & accommodation (-200) industries.
Ontario’s unemployment rate declined to 7.6 per cent last month. Nationally, it fell to 6.9 per cent as more than 67,000 new jobs were created across the country.