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Jobboom Index for June

Ontario’s employment outlook still “favourable”

Ontario’s 11,900 new jobs in the month of May were insufficient to boost this month’s Jobboom Index. The Index remains at a “favourable” level but drops 0.1 points to 85.7 percent. For the first three months of the year, 25,900 new positions were created in Ontario followed by a loss of 16,800 jobs in April. Over the past 12 months, employment in the province nonetheless grew by 0.8 percent.

Ontario’s goods-producing sector seems to have crawled out of its slump with the net creation of 10,200 new jobs. The new positions were mostly found in construction (+ 11,300) followed by utilities (+ 3,700), a distant second. Meanwhile, manufacturing, reported a mere 1,200 layoffs which pales in comparison with the 13,300 layoffs suffered over the previous month. Agriculture also reported a loss of 2,100 positions.

   JUNE 2007
   FORECAST
85.7%

FAVOURABLE

The services sector managed to add a net total of 1,700 new positions to the province’s economy, mostly in finance, insurance, real estate and leasing (+ 8,500) and in information, culture and recreation (+ 5,600). Meanwhile, losses were reported in commerce (-7,500) and in public administration, (-7,000).

The Jobboom Index measures job market strength over the past 120 months. This month’s Index ranks 31st out of 120, meaning there were 89 months over the last 120 months with lesser Indices. Over this same 10-year period, employment in Ontario grew by 25 percent.

Ottawa-Gatineau region: 79.3 percent — Favourable
The Ottawa-Gatineau Census Metropolitan Area (CMA) gained 800 new jobs in May adding to the 12,900 positions created in the three previous periods. Thus, recovery seems to be rather slow for this CMA which lost 24,100 jobs between September 2006 and January 2007. This month’s Index, however, climbs 0.3 points to 79.3 percent and remains “favourable”.

Over the past 12 months, employment in the Ottawa-Gatineau region fell by 1.3 percent. This month’s Index ranks 10th out of 120, meaning there were 110 months with lesser Indices over the past 120 months. Over this same 10-year period, employment increased by 30 percent.

Toronto region: 57.6 percent — Fair
The Toronto Census Metropolitan Area (CMA) lost 7,000 positions in May for a total of 13,700 layoffs over the past three months. This setback, however, is minor considering this CMA has also managed to create 67,400 new jobs from November 2006 to February 2007. Despite this, Toronto’s Index drops 9.9 points to 57.6 percent and remains “fair”.

Over the past 12 months, employment in this CMA grew by 2.0 percent. This month’s Index ranks 62nd out of 120, meaning there were 58 months with lesser Indices over the past 10 years. From 1997 to 2007, employment in the Toronto region increased by 29 percent.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO MAY
ONTARIO 85.7 FAVOURABLE -0.1
Ottawa-Gatineau Region 79.3 Favourable +0.3
Toronto Region 57.6 Fair -9.9