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Jobboom Index for May

A second substantial gain leads to another consecutive Index increase

The addition of 23,800 jobs, combined with the 31,200 new positions created over the previous period, has resulted in a 4 percent increase in Ontario’s Jobboom Index to 89 percent for the month of May. After a sluggish start to the year, this month’s Index reports a significant increase for a second consecutive month.

May’s results are based on last month’s goods-producing sector employment gains (+ 22,000), mainly in construction (+ 9,600) and in manufacturing (+ 10,400). Despite a positive tally, losses are reported mostly in the services sector, particularly in transportation and warehousing (- 10,300) as well as in information, culture and recreation (- 12,700). The strongest job gains overall, however, were found in the trade category (+ 28,700). Over the past 12 months, Ontario’s Jobboom Index increased by 1.7 percent. This month’s Index ranks 16th out of 120, meaning there were 104 months with lesser Indices between May 1996 and May 2006. Over this same period, employment in Ontario grew by 26 percent.

   MAY 2006
   FORECAST
89.0%

FAVOURABLE

Census Metropolitan Areas (CMAs)

Ottawa-Gatineau’s Regional Index: 96.8 percent — Excellent
The Ottawa-Gatineau Census Metropolitan Area (CMA) reports a seventh consecutive increase with the creation of 500 new jobs last month, adding to previous employment gains of 38,300 according to Statistics Canada. This month’s Index climbs 0.9 points to 96.8 percent. This CMA had suffered numerous losses last year, but recent gains have allowed the region to end 2005 with a positive employment tally and begin the new year with an Index above the 90 percent mark. Over the past 12 months, employment for this region has increased by 5.9 percent. This month’s Index ranks 1st out of 120, meaning there were 119 months with lesser Indices over the past 120 months. Over this same period, this CMA’s employment grew by 34 percent.

Toronto’s Regional Index: 64.7 percent — Fair
For the month of May, the Toronto Census Metropolitan Area (CMA) reports a rather insignificant Index increase (+ 0.3) with 2,400 new jobs. This CMA had also reported a slim increase of 1,200 jobs for the previous period that was insufficient to offset losses of 34,700 jobs for the first few months of 2006. Furthermore, this month’s Index is influenced by the historical data of the past ten years which shows a downturn in employment for this time of the year. Over the past 12 months, employment has, nonetheless, increased by 2.5 percent. This month’s Index ranks 71st out of 120, meaning there were 49 months with lesser Indices over the past 120 months. From April 1996 to April 2006, employment in Toronto increased by 31 percent.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO APRIL
ONTARIO 89.0 FAVOURABLE +4.0
Ottawa-Gatineau Region 96.8 Excellent +0.9
Toronto Region 64.7 Fair +0.3