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Jobboom Index for January

Ontario’s Index drops 11 points after a loss of 15,800 jobs

Ontario lost a net total of 15,800 jobs in December. Over the past two months, 20,700 positions have been eliminated in this province, which represents nearly a quarter of all new jobs created over the past five months. As a result, Ontario’s Jobboom Index for January 2008 has dropped 11.4 points to 82.2 %, and the province has lost the “favourable” employment status it achieved two months ago.

   JANUARY 2008
   FORECAST
82.8%



FAVOURABLE



With a net loss of 22,200 positions, Ontario’s goods-producing sector fared poorly in December 2007, compared with the province’s services sector (+ 6,300). The manufacturing sector took the hardest hit (-24,700), followed by agriculture (-2,700), while new jobs were created in natural resources (+ 3,400), utilities (+ 1,800) and construction (+ 100).

Meanwhile, job creation in the services sector was led by trade (+ 16 100), public administration (+ 8,000), health care and social assistance (+ 6,500), transportation and warehousing (+ 6,200) and professional, scientific and technical services (+ 5,400). However, considerable losses were reported in accommodation and food services (-13,200) and finance, insurance, real estate and leasing (-12,500).

Over the past year, employment in Ontario has grown by 1.4 %.

This month’s index ranks 40th out of 120, meaning there were 80 months with weaker indices over the past 120 months. From December 1997 to December 2007, employment in the province has grown by 23 %.

Toronto region: 51.8 % — Fair
12,500 jobs were created in the Toronto Census Metropolitan Area (CMA) in December 2007, leading to a 2.6 % increase in this CMA’s Jobboom Index. As a result, this CMA was able to drop the “unfavourable” employment status held during the previous five months.

Over the past 12 months, employment in the Toronto region has grown by 2.2 %.

This month’s index ranks 64th out of 120, meaning there were 56 months with lower indices over the past 10 years. From 1997 to 2007, employment in this CMA has increased by 27 %.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO DECEMBER
ONTARIO 82.8 FAVOURABLE -11.4
Ottawa-Gatineau Region 95.7 Excellent -1.3
Toronto Region 51.8 Fair +2.6