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Jobboom Index for August

Employment conditions remain excellent in Ontario

At 92.8 percent, Ontario’s Jobboom Index forecast is up once again. This time, the increase is slight (+0.2) following the creation of 8,600 jobs in July: a lesser performance compared to the addition of 17,700, 30,800 and 14,300 new jobs created over the three preceding months. Compared to the previous 120 months, this month’s Index ranks 2nd, leaving 118 months, over the past ten years, with weaker indices. The total number of jobs in Ontario now stands at 6,355,200. Over the past decade, from July 1994 to July 2004, employment in Ontario increased by 26 percent.

   AUGUST 2004
   FORECAST
92.8%

EXCELLENT

Toronto’s Regional Index: 92.5 percent
This fourth consecutive increase (+2.3 points) reflects the addition of 10,200 jobs in July, adding to a total of 48,700 new positions over the previous months. Compared to the past 120 months, this month’s Index is ranked 11th ahead of 109 with weaker indices. From July 1994 to July 2004, the number of jobs in the region rose from 2,007,500 to 2,770,700—an increase of 38 percent.

Ottawa-Gatineau’s Regional Index : 78.7 percent
The Ottawa-Gatineau region reports an Index climb of 5.8 percent with 6,400 new jobs in July, adding to the 2,500 and 1,300 positions created over the two previous months. The region has been struggling with insufficient job creation since the fall of 2003 and was unable to recover up until now. Compared to the past 120 months, this month’s results are ranked 19th ahead of 109 months with weaker indices. From July 1994 to July 2004, the number of jobs in the region rose from 506,400 to 616,300—an increase of 22 percent over a ten-year period.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO JULY
ONTARIO 92.8 EXCELLENT +0.2
Toronto Region 92.5 Excellent +2.3
Ottawa-Gatineau Region 78.7 Favourable +5.8