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Jobboom Index for December

The Jobboom Index Drops as Jobs Are Lost

Ontario lost 66,000 in November, which brings the total number of jobs lost to -68,900 over two consecutive months. This counter performance has gnawed away the 52,200 jobs that were created in September of this year. Therefore, the Index for Ontario suffers a setback of 31.6 points, bringing it down to 57.5 % for December. In three months, the Index has gone from the level “Excellent”, to “Favourable” and finally settling to “Acceptable”.

It is in the Services sector that losses were the most important. Overall, 34,100 jobs were lost in November. The losses are mostly associated with six sub-sectors: Corporate services, Business, building and other support services
(-20,500), Public administration (-18,700), Educational services (-12,200), Commerce
(-2,900 jobs), Other services (-1,200), and Healthcare and social assistance (-300). However, other sub-sectors saw increases: Accommodation and food services (+ 6,500), Professional, scientific and technical services (+ 5,900), Information, culture and recreation (+ 5,500), Finance, insurance, real estate and leasing (+ 2,800), and Transportation and warehousing (+ 1,100).

   DECEMBER 2008
   FORECAST
57.5%

FAIR

As for the Goods-producing sector, 32,000 jobs were lost. The losses were mostly attributable to three sub-sectors: Manufacturing (-42,200), Agriculture (-2,000 jobs), and Forestry, fishing, mining, oil and gas (-2,300). However, two other sub-sectors saw increases: Construction (+ 10,200) and Utilities (+ 4,300).

Over the past 12 months, employment has grown by 0.4 % in the province. This month’s Index ranks 91st out of 120, meaning there were 29 months with weaker indices over the past 10 years. From November 1998 to November 2008, employment in this province has risen by 20 %.

Ottawa-Gatineau region: 97 % — Excellent
In November, this Census Metropolitan Area (CMA) has seen the addition of 900 jobs, which brings the total of newly-created jobs to 15,300 in the region over seven consecutive months. The Ottawa-Gatineau Index increases
0.1 point at 97 %, because the data compiled by Statistics Canada over the past 10 years show an upwards trend in job creation in this region during the month of December. The job force predictions stop at 97 %, always set at the level “Excellent” since last July.

Over the past 12 months, employment in this CMA has grown by 1.8 %. This month’s Index ranks 1st out of 120, which means that December 2008 has the best performance over the past ten years. The number of jobs in the region has increased by 31 % in ten years.

Toronto region: 27.5 % — Unfavourable
In November, this CMA has created 2,500 jobs, which follows the trend started in September 2008. Overall, this region has seen the addition of 18,100 jobs since September, which counteracts the losses from the previous three months (-45,600) by a third. However, the Jobboom Index remains stable in December for this region. The Index is well anchored at the “Unfavourable” level, with 27.5 %.

Over the past 12 months, employment in the Toronto region has grown by 1.8 %. This month’s Index ranks 108th out of 120, meaning there were
12 months with weaker indices over the past ten years. From November 1998 to November 2008, employment in this CMA has risen by 25 %.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO NOVEMBER
ONTARIO 57.5 FAIR -4.4
Ottawa-Gatineau Region 97 Excellent 0.1
Toronto Region 27.5 Unfavourable 0.0