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Jobboom Index for April

Significant job gains allow sharp Index climb


Following a period of relative stagnation, the province of Ontario added 31,200 jobs to its economy in March, resulting in a 6.9 per cent increase in this month’s Jobboom Index which climbs to 85 per cent for April.

Ontario added 31,200 jobs to its economy in March, resulting in a 6.9 point climb in its Jobboom Index to 85 per cent for the month of April. The province lost 17,700 jobs at the end of 2005, followed by a gain of 15,600 at the start of 2006 which was cancelled out by a loss of 17,200 positions in February. Thus, this month’s Index represents a significant climb.

   APRIL 2006
   FORECAST
85.0%



FAVOURABLE



Ontario's services sector contributed to most of the new jobs (+ 51,400), mainly in trade (+ 13,600) and more specifically in the finance, insurance, real estate and leasing sub-category (+ 15,000). Meanwhile, losses were mostly found in the goods-producing sector (− 20,100), notably in construction (− 11,200). Over the past 12 months, employment grew by 1.8 per cent in the province. This month's Index ranks 38th out of 120. In other words, there were 82 months with lesser Indices from March 1996 to March 2006. Over the past 10 years, employment in Ontario grew by 25 per cent.

Ottawa-Gatineau's Regional Index: 95.9 per cent
The Ottawa-Gatineau CMA reports a 6th consecutive gain (+ 1,900 in March) adding to a total of 36,400 new jobs created over the previous months, as reported by Statistics Canada. This region's Jobboom Index reports a slim increase (+ 0.3) to 95.9 per cent for the month of April. This CMA had suffered numerous losses in 2005 and in July saw its Index slip below the 80 per cent mark. Recent gains, however, had allowed the region to end 2005 with a positive employment tally and begin the new year with an Index above 90 per cent. Over the past 12 months, employment in Ottawa-Gatineau grew by 6 per cent. This month's Index ranks 1st out of 120, leaving 119 months with lesser Indices over the past 120 months. Over this same 10-year period, the number of jobs in this CMA increased by 35 per cent.

Toronto's Regional Index: 64.4 per cent
The Toronto Census Metropolitan Area (CMA) reports another Index drop this month (− 5.9). Last month's slim gain of 1,200 jobs were insufficient to make up for the loss of 34,700 jobs over the three previous periods. April's forecast is also influenced by the historical trends of the past 10 years that show weak job creation for this time of year. Employment in Toronto has, nonetheless, increased by 2.7 per cent over the past 12 months. This month's Index ranks 71st out of 120, meaning there were 49 months with lesser Indices over the past 10 years. From March 1996 to March 2006, employment in Toronto increased by 31 per cent.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO MARCH
ONTARIO 85.0 FAVOURABLE +6.9
Ottawa-Gatineau Region 95.9 Excellent +0.3
Toronto Region 64.4 Fair -1.8