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Jobboom Index for December

Ontario hangs on to “excellent” employment status

With a net loss of only 4,900 jobs, Ontario’s employment situation saw little change in November. This loss, however, puts an end to 5 consecutive months of uninterrupted job growth, during which 88,400 jobs were added to the province’s economy. As a result, this month’s Jobboom Index drops 2.7 points to 94.2 %. Nonetheless, Ontario’s employment status remains “excellent,” after this status was obtained last month for the first time since August 2006.

   DECEMBER 2007
   FORECAST
94.2%



EXCELLENT



The services sector saw meagre gains in November with the net creation of 1,800 new jobs. New positions were found mostly in other services (+ 15,600), in business, building and other support services (+ 13,300) and in educational services (+ 7,100). Meanwhile, major losses were reported in professional, scientific and technical services (-20,900), as well as public administration (-16,600).

Ontario’s goods-producing sector again reported net losses (-6,800), mostly in construction (-7,200), followed by agriculture (-4,100). Meanwhile, manufacturing posted gains of 3,800.

Over the past year, employment in Ontario has grown by 2.2 %.

This month’s index ranks 3rd out of 120, meaning there were 117 months with weaker indices over the past 120 months. Over this same 10-year period, employment in the province grew by 23 %.

Ottawa-Gatineau region: 97 % — Excellent
Employment growth continued in November for this Census Metropolitan Area (CMA), with 4,700 new jobs being added to the 34,800 positions created over the 9 previous months. Thus, this region’s index gains 0.1 points to 97 % and retains its “excellent” employment status for a fourth consecutive month.

Over the past 12 months, employment in the Ottawa-Gatineau region has grown by 5.8 %. This month’s index ranks 1st out of 120, meaning there were 119 months with weaker indices over the past 120 months. During this same 10-year period, employment in Ontario has increased by 29 %.

Toronto region: 49.2 % — Unfavourable
The Toronto Census Metropolitan Area (CMA) added 2,900 jobs to its economy in November. Despite a 0.1-point climb, this CMA’s employment status remains “unfavourable” for a fifth consecutive month.

Over the past 12 months, employment in the Toronto region has grown by 2.5 %.

This month’s index ranks 68th out of 120, meaning there were 52 months with lower indices over the past 120 months. From 1997 to 2007, employment in this CMA has increased by 27 %.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO NOVEMBER
ONTARIO 94.2 EXCELLENT -2.7
Ottawa-Gatineau Region 97 Excellent +0.1
Toronto Region 49.2 Unfavourable +0.1