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Jobboom Index for December

Employment remains fair and stable in Ontario

Job creation in Ontario was very weak over the past month with a slim 1,400 new jobs adding to the 48,100 positions created over the past three months. Thus, this month’s Jobboom forecast drops slightly (- 0.2). Gains were reported mostly in the goods producing sector (+ 700), mostly in construction, while greater losses were reported in the services sector, notably in professional, scientific and technical services as well as in information, culture and recreation (− 29,300). New jobs, however, in accommodation and food services as well as in business, building and other support services offset most of these losses. Year-to-date net job creation stands at 93,500 with a growth rate of 1.5 per cent. Over the past 12 months, net job creation totalled 100,700 with a growth rate of 1.6 per cent. This month’s Index ranks 20th out of 120, leaving 100 months with weaker Indices from November 1995 to November 2005. Over this same 10-year period, employment in Ontario grew by 25 per cent.

   DECEMBER 2005
   FORECAST
88.6%

FAVOURABLE

Toronto’s Regional Index: 88.7 per cent
This Census Metropolitan Area (CMA) reports yet another Index increase for December (+ 2.1), with the creation of 7,500 new jobs over the past month, adding to a total of 97,700 new positions created over the six previous months. Toronto’s employment status had dropped to “fair” in December 2004. Since then, this CMA reports year-to-date net gains of 104,200 with a growth rate of 3.9 per cent. For the past 12 months, net gains represent 104,800 positions (+ 3.9). Compared to the past 10 years, Toronto’s Index ranks 10th out of 120, with 110 months with lesser Indices. From November 1995 to November 2005, employment in the Toronto area grew by 32 per cent.

Ottawa-Gatineau’s Regional Index: 83.5 per cent
Another important gain of 5,300 jobs, adding to last month’s 5,800 new jobs reported by Statistics Canada, has allowed this CMA’s index to climb yet again (+ 4.6). Only time will tell, however, if these gains can be maintained. In past months, this region suffered losses of 7,100 and a lacklustre month of July when its Index fell below the 80 per cent mark for the first time since November 2004. Year-to-date net job creation remains negative (− 200) with zero employment growth, while for the past 12 months net job creation was positive with employment growth pegged at 0.7 per cent. This month’s Index ranks 23rd out of 120, meaning there were 97 months with lesser Indices over the past 10 years. Over this same period, employment in the region grew, nonetheless, by 30 per cent.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO NOVEMBER
ONTARIO 88.6 FAVOURABLE -0.2
Toronto Region 88.7 Favourable +2.1
Ottawa-Gatineau Region 83.5 Favourable +4.6