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Jobboom Index for March

Employment Index sees ups and downs over past three months

Ontario lost 17,200 jobs over the past month, adding to year-end losses of 17,700 and wiping out employment gains made at the beginning of 2006 (+ 15,600). The result has been a 4.2 per cent drop in this month’s employment forecast.


While losses in January were mostly reported in the goods producing sector, February’s losses were mostly felt in the services sector (- 33,200), particularly in business, building and other support services (- 22,800) and in public administration (- 19,300). Meanwhile, the goods producing sector added 15,900 new jobs, mostly in manufacturing. Over the past 12 months, employment in Ontario grew by 1.2 per cent. This month’s Index ranks 55th out of 120, meaning there were 65 months with lesser Indices from March 1996 to March 2006. Over the past 10 years, employment in Ontario grew by 25 per cent.

   MARCH 2006
   FORECAST
78.1%

FAVOURABLE

Ottawa-Gatineau’s Regional Index: 95.6 per cent
The Ottawa-Gatineau Census Metropolitan Area (CMA) reports a fifth consecutive monthly employment gain (+ 7,300) adding to a total of 29,100 new jobs over the previous months, as reported by Statistics Canada. Employment trends over the past 10 years, however, show weak job creation in March. The net result is a slight 0.2 per cent drop in this CMA’s employment forecast. Last year, Ottawa-Gatineau had suffered numerous losses and slipped below the 80 per cent mark in July. Year-end job creation, however, allowed the region to end 2005 with a positive employment tally and begin the new year with an Index above the 90 per cent mark. Over the past 12 months, employment for the region has increased by 5.3 per cent. 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 10-year period, the number of jobs in the region increased by 34 per cent.

Toronto’s Regional Index: 66.2 per cent
The Toronto Census Metropolitan Area reports another Index drop this month (− 5.9) following a loss of 10,800 jobs last month, adding to losses of 23,900 over the two previous periods. Over the past year, employment has, nonetheless, increased by 2.9 per cent. This month’s Index ranks 67th out of 120, meaning there were 53 months with lesser Indices over the past 120 months. From February 1996 to February 2006, employment in Toronto increased by 31 per cent.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO FEBRUARY
ONTARIO 78.1 FAVOURABLE -4.2
Ottawa-Gatineau Region 95.6 Excellent -0.2
Toronto Region 66.2 Fair -5.9