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Jobboom Index for June

The Ontario Index reaches a new summit

A total of 11,000 jobs were created in Ontario in May 2008, continuing the upward trend observed since the beginning of the year - apart from a slight setback in March - with the creation of 80,700 jobs. As such, the Index is up 0.9 percentage points, bringing it to 97.8 %, its highest level ever.

A total of 16,900 jobs were created in the goods-producing sector in May, with major gains reported in the following sub-sectors: Manufacturing (+ 15,300) and Agriculture (+ 3,400). Meanwhile, losses were reported in Forestry, fishing, mining, oil and gas (-1,300), Utilities (-400) and Construction (-200).

   JUNE 2008
   FORECAST
97.8%



EXCELLENT



The services sector did not fare as well, with a net loss of 5,700 jobs in May. The majority of losses were reported in the following five sub-sectors: Education services (-14,700), Professional, scientific and technical services
(-8,400), Business, building and other support services (-6,000), Information, culture and recreation (-5,500) and Health care and social assistance
(-1,300). Meanwhile, gains made in the following sub-sectors helped to offset some of the losses: Accommodation and food services (+ 8,500), Transportation and warehousing (+ 6,000), Public administration (+ 4,200), Finance, insurance, real estate and leasing (+ 2,100) and Trade (+ 1,900).

Over the past year, employment in Ontario has grown by 2.2 %.

This month’s index ranks 1st out of 120, meaning there were 119 months with weaker indices over the past 120 months. From May 1998 to May 2008, employment in this CMA has grown by 23 %.

Ottawa-Gatineau region: 89.3 % — Favourable
This region created a total of 700 jobs in May, offsetting the losses registered since December 2007, which have declined from 3,300 to 2,600. Meanwhile, data compiled by Statistics Canada over the last 10 years show an upwards trend in job creation for this region during the month of June. As such, the Ottawa-Gatineau index is up 0.9 percentage points, bringing it close to the excellent mark at 89.3 %.

Over the past 12 months, employment in this CMA has grown by 3.4 %. This month’s index ranks 8th out of 120, meaning there were 112 months with weaker indices over the past 10 years. From May 1998 to May 2008, employment in this CMA has grown by 27 %.

Toronto region: 75.5 % — Favourable
During the month of May, 10,300 jobs were created in the Toronto Census Metropolitan Area (CMA), bringing the total of new jobs created over the past four months to 59,100. Data compiled by Statistics Canada over the last
10 years also show an upwards trend in job creation for this region during the month of June. As such, this month’s index is up 1 percentage point, hovering just above the favourable mark at 75.5 %.

Over the past 12 months, employment in the Toronto region has grown by 3.3 %. This month’s index ranks 22nd out of 120, meaning there were
98 months with weaker indices over the past 10 years. From May 1998 to May 2008, employment in this CMA has increased by 29 %.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO MAY
ONTARIO 97.8 EXCELLENT 0.9
Ottawa-Gatineau Region 89.3 Favourable 0.9
Toronto Region 75.5 Favourable 1.0