Unemployment ticks up slightly in Stratford-Bruce Peninsula Economic Region
Unemployment in the Stratford-Bruce Peninsula Economic Region went up slightly in July.
A release from the Four County Labour Market Planning Board says unemployment went up 0.3 percent to 4.3 percent overall, now tied for the third lowest in Ontario with the Kingston-Pembroke region. The provincial unemployment rate
increased by 0.1 percent to 5.5 percent, both unadjusted for seasonality. Overall net employment in the region increased by 2,900, with full-time gains of 6,500 and part-time losses of 3,600.
Current job postings for the Bruce, Grey, Huron and Perth region have increased over time since the pandemic and can be found at: http://www.connect2JOBS.ca. The current number of job postings currently exceeds 2,600.
“The inability for employers to retain and attract workers to fill vacancies is at an all-time high. With the 10-year chronic low unemployment rate, this is not a new challenge to our regions but one that has gotten far worse as the labour market continues to shrink and change landscapes. New and innovative solutions will be needed to address critical shortages, avoid the loss of businesses and critical care services for our regions.” says Dana Soucie, Executive Director for the Four County Labour Market Planning Board.
The number of Goods-producing sector employees increased by net 1,000. The main driving force came from gains in Construction (+1,300) followed by Agriculture (+700). Utilities experienced the biggest loss (-900).
Employment in the Services-producing sector increased by net 1,900. Healthcare and social assistance experienced gains (+1,300) followed closely by Wholesale and Retail trade (+1,200). Educational services experienced the biggest loss (-700).