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Dashboard of Economic Indicators

Labour Market

  • Broad labour market changes remained positive in July – September 2018.
  • When compared with the similar quarter of 2017, the changes were as follows:
    • The quarterly average labour force increased by 2.7 per cent to approximately 916,800 persons; and
    • Quarterly average employment increased by 1.6 per cent to approximately 847,900 positions.
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Data source – STATSCAN
  • The increase in employment in July – September 2018 marked as the fifth consecutive quarterly increase in Peel’s quarterly average employment.
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Data source – STATSCAN
  • This was supported by growth in full-time employment (2.9 per cent) in both the goods-producing (6.9 per cent) and service (0.2 per cent) sectors.
  • However, the proportionately stronger increase in the quarterly average labour force (persons entering the labour market) relative to the quarterly average employment (persons who were successful in finding employment) resulted in 1.0 percentage point increase in the quarterly average unemployment rate to 7.5 per cent in July – September 2018.
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Data source – STATSCAN
  • The higher average unemployment rate in Peel was the result of an increase in the unemployment rate in the adult 25 years and over age group, up by 1.5 percentage points to 6.4 per cent.
  • The unemployment rate for youth (15 – 24 years) fell from 15.0 per cent in July – September 2017 to 13.0 per cent in July – September 2018.

Employment by Type

  • The growth in quarterly average employment in Peel’s labour market between July – September 2017 and 2018 was led by full-time employment, which increased by 2.9 per cent or 19,900 positions.
  • Over the same period, quarterly average part-time employment decreased by 4.7 per cent (6,600 positions) to a total of approximately 134,100 positions.
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Data source – STATSCAN

Employment by Sector

  • In July – September 2018, both the service sector and goods-producing sector supported the growth in Peel’s quarterly average employment.
  • Relative to the similar quarter of 2017, the quarterly average employment in services increased by 0.2 per cent or by approximately 1,600 positions.
  • In the goods-producing sector, quarterly average employment also increased by 6.9 per cent or approximately 11,700 positions.
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Data source – STATSCAN
  • With these changes, the total quarterly average employment in the goods-producing and service sector stood at approximately 180,500 persons and 667,400 persons respectively in the third quarter of 2018.
  • Given the relatively large increase observed in the goods-producing sector, the share of its employment in Peel’s total labour market increased to 21.3 per cent in July – September 2018, up from 20.2 per cent in the similar quarter of 2017.
  • This is a switch from the long-time shift in employment from goods-producing to services.
  • On the other hand, the share of employment accounted for by the service sector fell by 2.1 percentage points to 78.7 per cent during the same period.