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Jobboom Index for May

Ontario’s Index continues to climb

After having lost 39,100 jobs over a 3-month period, Ontario’s Jobboom Index first began to recover in March, with the creation of 19,100 jobs. A month later, the addition of 7,100 new jobs resulted in another Index increase. Based on last month’s creation of 26,100 jobs, May’s Index is also reporting positive results (+6.1), as the province’s employment level moves closer to the “excellent” mark. This month’s Index ranks 14th when compared to the past 120 months. In other words, over the past ten years, there were 106 months with weaker Indices. From April 1995 to April 2005, employment in Ontario grew by 24 percent.

   MAY 2005
   FORECAST
88.9%

FAVOURABLE

Toronto’s Regional Index: 59.0 percent — Fair
Following the creation of 5,000 new jobs over the past month, Toronto’s Index reports a slight, almost insignificant, increase for May (+0.3). This brings total employment gains for this Census Metropolitan Area (CMA) to 12,400 for the months of March and April—too small a number to offset total losses of 37,900. Toronto’s Index remains “fair” since December 2004. This month’s index rank 69th when compared to the previous 120 months. In other words, there were 51 months with weaker Indices over the past ten years. From April 1995 to April 2005, employment in the Toronto region grew by 29 percent.

Ottawa-Gatineau Regional Index: 85.4 percent — Favourable
A small gain of 300 jobs over the past month has resulted in a modest increase in Ottawa-Gatineau’s Jobboom Index (+0.8). The new jobs, however, are too few to compensate the loss of 6,200 positions reported by Statistics Canada for the months of February and March. May’s forecast remains nonetheless positive due to strong employment gains reported at the end of 2004 that pushed the Index over the 80 percent mark, following several months of stagnation. This month’s Index ranks 19th when compared to the previous 120 months. In other words, there were 101 months with lesser Indices over the past 10 years. From April 1995 to April 2005, employment in the region grew by 23 percent.

Important Note: Jobbom Index forecasts have been adjusted to reflect changes to Statistics Canada’s Labour Force Survey (LFS) based on data from the 2001 Census. These changes were published in February 2005.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO APRIL
ONTARIO 88.9 FAVOURABLE 6.1
Ottawa-Gatineau Region 85.4 Favourable 0.8
Toronto Region 59.0 Fair 0.3