January – March 2016
- Labour market changes remained positive in the first quarter (January – March) 2016 as reflected in the following changes:
- The quarterly average labour force increased by 14.4 per cent, to 847,600 persons;
- The quarterly average employment increased at a faster pace of 16.5 per cent to 793,000 persons; and
- With a faster pace of growth in employment (16.5 per cent) relative to the net addition to the labour force (14.4 per cent) the quarterly average unemployment rate declined from 8.1 per cent in January – March 2015 to 6.4 per cent in January – March 2016.
- The quarterly average unemployment rate of 6.4 per cent in January – March 2016 was the lowest quarterly average unemployment rate in Peel for any first quarter since 2008.
- The lower quarterly average unemployment rate in Peel in January – March 2016 was a result of lower rates across both the youth (15 – 24 years) and adult (25 years and over) segments of the market.
- The quarterly average unemployment rate for youth (15 – 24 years) fell from 18.7 per cent in January – March 2015 to 13.0 per cent in January to March 2016 as the quarterly average employment growth among youth (15 – 24 years) of 12.8 per cent outpaced the 5.9 per cent increase the labour market entrance.
- The quarterly average unemployment rate for adults (25 years and over) also fell, but by a smaller magnitude (0.9 percentage points), moving from 6.4 per cent in January – March 2015 to 5.5 per cent in January – March 2016.
- Similarly, a larger increase (17.0 per cent) in the number of persons who found jobs relative to the increase (15.9 per cent) in those who entered the labour market in search of employment, was the underlying reason for the reduction in the unemployment rate in the adult (25 years and over) segment of the market.
- Growth in average quarterly employment in Peel’s labour market in the first quarter of 2016 extended the relatively strong quarterly employment growth observed in Peel to five quarters.
- Sectorally, the growth in quarterly average employment in January – March 2016 was driven by higher employment in the service sector, where quarterly average employment advanced by 17.5 per cent (94,200 positions).
- Growth in quarterly average employment in the goods producing sector also supported the overall growth observed with the addition of 18,300 positions, up 12.9 per cent.
- With the higher growth in services, the proportion of persons in Peel’s labour market employed in the service sector inched up to 79.8 per cent in January – Mach 2016, from 79.2 per cent in January – March 2015.
- The goods producing sector showed a corresponding decline of 0.6 percentage points during the same period to 20.2 per cent.
- When disaggregated by type, both full-time (16.2 per cent) and part-time (18.0 per cent) employment shared in the growth observed.
- However, as the larger of the two, the 16.2 per cent increase in full-time employment translated into a greater number of new positions (92,000 of the 112,400 new positions) added during the quarter.
April – June 2016
- In the second quarter of 2016, the positive quarterly changes in Peel’s labour market continued, and remained broad-based.
- When compared with the second quarter of 2015, the quarterly average labour force in Peel Region increased by 9.2 per cent, while the quarterly average employment increased at a faster pace of 10.4 per cent.
- As a result, the quarterly average unemployment rate continued to decline, moving from 7.9 per cent in the second quarter of 2015 to 6.9 per cent in the second quarter of 20162.
- The increase in quarterly average employment occurred across all major employment sub-categories.
- There was growth in both the goods producing (9.3 per cent) and service (10.7 per cent) sectors, in both full-time (7.0 per cent) and part-time (30.7 per cent) positions, and in both the youth (15 – 24 years) and adult (24 years and over) segments of the labour market.
- This marked the sixth consecutive quarter in which relatively strong and pervasive growth characterized changes in Peel’s labour market.
2 Note: Peel’s quarterly labour market data is comparable only with similar quarters of previous years. Inter year comparison should not be done as the data is not seasonally adjusted.