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Jobboom Index for February

Ontario Index remains stable despite 12,900 new jobs

Ontario added 12,900 new jobs to its economy in January, partially offsetting the 20,700 layoffs of the two previous months. As a result, the province’s index remains stable at 82.8 %.

The province’s goods-producing sector was able to outperform the services sector (-9,600) in January with a net total of 22,400 new positions. The manufacturing sector, which lost 24,700 positions in December 2007, managed to regain 12,800 jobs. Gains were also reported in construction (+ 4,300), utilities (+ 3,600), natural resources (+ 1,400) and agriculture (+ 500).

   FEBRUARY 2008
   FORECAST
82.8%



FAVOURABLE



Meanwhile, losses in the services sector were led by information, culture and recreation (-22,300), followed by accommodation and food services (-11,000), trade
(-10,500), business, building and other support services (-4,600) and educational services (-3,800). Gains were reported in professional, scientific and technical services (+ 14,300), public administration (+ 5,700), finance, insurance, real estate and leasing (+ 5,100), and health care and social assistance (+ 4,400).

Over the past 12 months, employment in Ontario has grown by 1.5 %.

This month’s index ranks 35th out of 120, meaning there were 85 months with weaker indices over the past 120 months. From January 1998 to January 2008, employment has grown by 23 %.

Toronto region: 51.5 % — Fair
2,300 jobs were created in the Toronto Census Metropolitan Area (CMA) in January 2008. However, historical employment figures from Statistics Canada show weaker job creation for February. As such, these new jobs were not enough to stabilize the CMA’s index, bringing this month’s index down by 0.3 points. After posting five months of “unfavourable” employment status, Toronto’s job prospects remain “fair” for a second consecutive month.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO JANUARY
ONTARIO 82.8 FAVOURABLE 0.0
Ottawa-Gatineau Region 93.1 Excellent -2.6
Toronto Region 51.5 Fair -0.3