The interaction between people available and looking for work and those seeking persons willing to work at the market wage rate.
- As Peel progressed to stage 2 and 3 of the provincial phased re-opening of the economy in July – September 2020, conditions in Peel’s labour market improved.
- More of Peel’s residents entered the labour market in search of work and many found jobs.
- This led to an increase in employment, which was concentrated in part-time and service sector positions.
- In October 2020, Peel and some other GTA regions moved back to a modified stage 2 economic reopening as the number of COVID-19 cases continued to increase in these regions. As a result, the improvement in Peel’s labour market is expected to slow in the final quarter of 2020.
Labour market conditions in Peel improved in Q3 2020 as COVID-19 restrictions eased and Peel entered stage 3 of the phased re-opening on July 31st, 2020, allowing many businesses to reopen and rehire employees.
When compared with Q3 2019, approximately 60,000 additional Peel residents (6.4 per cent) entered the labour market in Q3 2020.
During the same period, employment fell by 1.2 per cent, representing a loss of 10,500 positions.
This was a significant improvement from the 15.5 per cent decline in employment (- 137,800 positions) recorded in Q2 2020 when the impacts of COVID-19 measures were more pronounced.
Changes in the youth (15 – 24 years) and core working age (25 – 64 years) groups were similar to the overall changes, as there were respective increases of 16.3 per cent and 3.6 per cent in total labour force, and declines of 5.9 per cent and 1.5 per cent in total employment in Q3 2020.
The employment rate is the number of employed persons in a particular age group expressed as a percentage of the population in that age group.
- Compared with Q3 2019, Peel’s overall average employment rate declined in Q3 2020 as rates for the major age groups fell in the period.
- In the youth (15 – 24 years) segment of the labour market, the employment rate fell from 50.7 per cent in Q3 2019 to 43.2 per cent in Q3 2020.
- In the core working-age (25 – 64 years) group, the employment rate also fell from 78.3 per cent to 77.0 per cent, during the same period.
- These were the lowest employment rates for each age group recorded in Peel since Peel-specific quarterly labour market data became available in 2006.
The participation rate is the total labour force in a particular age group, expressed as a percentage of the population in that age group.
As the economy continued to reopen in July 2020, labour market conditions in Peel improved and many residents re-entered the labour market, resulting in an increase in the quarterly average participation rate across all age groups in Q3 2020.
Between Q3 2019 to Q3 2020, the changes in the participation rate among the three main age groups were as follows;
- Overall rate (15 years and over): up from 68.7 per cent to 71.3 per cent;
- Core working-age (25 – 64 years): up from 61.3 per cent to 64.6 per cent; and
- Youth (15 - 24 years): up from 82.3 per cent to 85.0 per cent.
Employment by sector
As COVID-19 restrictions eased, the increase in employment in Peel’s labour market was solely in services.
Relative to Q3 2019, employment in the service sector increased by 1.7 per cent to 708,200 positions in Q3 2020.
This was led by finance, insurance, real estate and leasing (27.4 per cent) and information, culture and recreation (48.2 per cent).
In the goods producing sector, 22,100 positions were lost in the same period, representing a 12.7 per cent decline in Q3 2020 to 151,700 positions.
Lower employment in the goods-producing sector was mainly a result of declines in the manufacturing (-12.7 per cent) and construction (-8.9 per cent) sectors.
Employment by type
As COVID-19 restrictions eased, some residents in Peel were able to find employment, mainly in part-time positions as full-time employment declined.
The changes in employment were as follows:
- Part-time: up 0.4 per cent or 500 positions; and
- Full-time: down 1.5 per cent or -11,000 positions.
1 Quarterly labour market statistics are all measured in quarterly averages.