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Jobboom Index for January

Weak Employment Growth Forces a Drop in the Jobboom Index

Ontario, which had lost 68,900 jobs in October and November, saw the creation of 1,800 jobs in December. Even with last month’s weak job growth, the Index for Ontario suffers a setback in January it loses 10.1 points bringing it down to 47.7 %. This drop takes into account the data collected by Statistics Canada over the last decade they show that job creation tends to normally drop in Ontario in the month of January. Within four moths, the Index for this province has gone from the level of “excellent” to that of “unfavourable”.

The Services sector yielded a net growth of 10,800 jobs in December. Several sub-sectors also performed well: Finance, insurance, real estate and leasing (+ 22,000 jobs), Information, culture and recreation (+ 9,100), Commerce (+ 8,600), Healthcare and social assistance (+ 3,200), Other services (+ 2,000), and Transportation and warehousing (+ 200). However, the good news in these sub-sectors was counterbalanced by important losses in other sub-sectors: Educational services (-12,400), Accommodation and food services (-11,400), Public administration (-7,400), Professional, scientific and technical services
(-1,800), and Corporate services, Business, building and other support services (-1,100).

   JANUARY 2009
   FORECAST
47.4%

UNFAVOURABLE

As for the Goods-producing sector, 8,900 jobs were lost. The losses were mostly attributable to three sub-sectors: Construction (-10,700 jobs), Utilities (-3,700), and Forestry, fishing, mining, oil and gas (-2,400). However, two other sub-sectors saw increases: Manufacturing (+ 7,100) and Agriculture (+ 700).

Over the past 12 months, employment has grown by 0.6 % in the province. This month’s Index ranks 99th out of 120, meaning there were 21 months with weaker indices over the past 10 years. From December 1998 to December 2008, employment in this province has risen by 20 %.

Ottawa-Gatineau region: 94.6 % — excellent
In December, this CMA has seen the loss of 1,500 jobs. These losses are the first ones the region has seen in the past eight months. Furthermore, the data compiled by Statistics Canada over the past 10 years show a downward trend in job creation in January. The Index for Ottawa-Gatineau thus drops by
2.4 points for this month. The job force predictions stop at 97 %, always set at the level “Excellent” since last July.

Over the past 12 months, employment in this Census Metropolitan Area (CMA) has grown by 1.6 %. This month’s Index ranks 3rd out of 120, meaning there were 117 months with weaker indices over the past 10 years. The number of jobs in the region has increased by 31 % in ten years.

Toronto region: 19.4 % — Unfavourable
In December, this CMA has lost 1,800 jobs. These losses gnaw away part of the 18,100 jobs that had been created since September. The Jobboom Index for this region thus drops by 8.1 points. It therefore remains well anchored at the “Unfavourable” level, with 19.4 %.

Over the past 12 months, employment in the Toronto region has grown by 1.4 %. This month’s Index ranks 113th out of 120, meaning there were
7 months with weaker indices over the past ten years. From December 1998 to December 2008, employment in this CMA has risen by 25 %.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO DECEMBER
ONTARIO 47.4 UNFAVOURABLE -10.1
Ottawa-Gatineau Region 94.6 Excellent -2.4
Toronto Region 19.4 Unfavourable -8.1