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Jobboom Index for November

Ontario’s Index drops but employment remains at “favourable” level

Ontario lost 1,800 positions in October adding to losses of 34,900 jobs in the preceding months. Prior to that, from March to June, the province saw the creation of 90,400 positions. The result is a drop of 2.2 percent in this month’s Jobboom Index. At 77.6 percent, Ontario’s Index remains “favourable”.

Most losses were reported in the goods-producing sector with a net drop of 10,000 positions—a total which includes 17,600 lost jobs in manufacturing and a loss of 2,400 positions in agriculture. Meanwhile, 5,500 new jobs were added in construction.

The services sector reported a net total of 8,200 new jobs in October. This tally includes job creation in finance, insurance, real estate and leasing (+ 12,400), in educational services (+ 10,400) and in business, building and other support services (+ 7,400).

Over the past 12 months, employment in Ontario grew by 0.6 percent. This month’s Index ranks 63rd out of 120, meaning there were 57 months with lesser Indices over the past 10 years. During this same 10-year period, employment in Ontario grew by 25 percent.

   NOVEMBER 2006
   FORECAST
77.6%

FAVOURABLE

Ottawa-Gatineau region: 78.9 percent — Favourable
After several months of “excellent” employment results, the Jobboom Index forecast for this Census Metropolitan Area (CMA) drops dramatically by 11.3 points to a “favourable” status. The loss of 8,900 jobs in October is partly to blame. This month’s Index is also influenced by the historically weak job creation results for this period of the year, over the past 10 years. Over the past two months, the region reported 13,400 lost jobs. Over the past 12 months, employment, nonetheless, grew by 3 percent. This month’s Index for the Ottawa-Gatineau region ranks 11th out of 120, meaning there were 109 months with lesser Indices over the past 10 years. Over this same period, employment for this CMA increased by 25 percent.

Toronto region: 55.6 per cent — Fair
The Toronto Census Metropolitan Area (CMA) lost 3,400 jobs in October, for a total of 14,300 lost positions over the past three months, effectively eroding previous employment gains (+ 33,200) achieved over a 5-month period. Toronto has yet to offset the 34,700 jobs it lost in the first few months of the year. Over the past 12 months, employment for this CMA dropped by 0.3 percent. This month’s Index ranks 86th out of 120, meaning there were 34 months with lesser Indices over the past 10 years. From 1996 to 2006, employment in Toronto grew by 31 percent.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO OCTOBER
ONTARIO 77.6 FAVOURABLE -2.2
Ottawa-Gatineau Region 78.9 Favourable -11.3
Toronto Region 55.6 Fair -7.6