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Jobboom Index for January

Jobboom Index “favourable” despite layoffs in December

After four months of growth, Quebec registered a loss of 10,700 jobs in December 2007. This loss, combined with the province’s negative job creation record for the month of January, as measured over the past 10 years, yields a 6.6 % drop in this month’s Jobboom Index. As a result, Quebec’s employment forecast has dropped below the “excellent” threshold, to 89.1 % for the first month of 2008.

   JANUARY 2008
   FORECAST
89.1%



FAVOURABLE



The province’s services sector suffered the most losses over the past month (-17,800), mainly in trade (-6,800), public administration (-3,700), business, building and other support services (-3,100) and educational services
(-2,800), while considerable gains were reported in professional, scientific and technical services (+ 5,300), finance, insurance, real estate and leasing (+ 1,500) and information, culture and recreation (+ 1,100).

Meanwhile, Quebec’s goods-producing sector produced positive results in December with a net total of 7,200 new jobs. Increases were reported in construction (+ 6,900), manufacturing (+ 6,500) and natural resources (+ 1,700), while layoffs were reported in agriculture (-5,600) and public administration (-2,500).

Over the past year, employment in Quebec has grown by 2.4 %.

The Jobboom Index measures job market strength on a monthly basis and compares this performance over the past 120 months. This month’s index ranks 7th out of 120, meaning there were 113 months with weaker indices over the past 10 years. From December 1997 to December 2007, employment in Quebec has grown by 20.7 %.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO DECEMBER
QUÉBEC 89.1 FAVOURABLE -6.6
Ottawa-Gatineau Region 95.7 Excellent -1.3
Montréal Region 94.3 Excellent -0.9
Québec Region 89.9 Favourable -1.5
Sherbrooke Region 88.9 Favourable +10.7
Trois-Rivières Region 85.6 Favourable -5.8
Saguenay Region 67.8 Fair -4.7