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Jobboom Index for November

Ontario returns to “excellent” employment status with 32,300 new jobs

Ontario added 32,300 new jobs to its economy in October as a result of an employment trend that began four months ago with the creation of
56,100 positions. Thus, the province’s index makes an 8-point jump to 96.9 %, returning to the “excellent” employment status abandoned in September of 2006.

The province’s services sector made the most net gains (+ 33,100), led by public administration (+ 21,400), other services (+ 15,000), trade (+ 8,800), information, culture and recreation (+ 7,100) and professional, scientific and technical services (+ 4,400). Meanwhile, major losses were reported in business, building and other support services (-20,900), as well as in accommodation and food services (-15,000)

   NOVEMBER 2007
   FORECAST
96.9%



EXCELLENT



The province’s goods-producing sector reported a net loss of 800 jobs, mainly due to layoffs in construction (-600) and agriculture (-400). Manufacturing, however, managed to create 600 positions in October.

Over the past year, employment in Ontario has grown by 2.5 %. This month’s index ranks 1st out of 120, meaning there were 119 months with weaker indices over the past 120 months. Over this same 10-year period, employment in the province has grown by 24 %.

Ottawa-Gatineau region: 96.9 % — Excellent
Employment growth continues for this CMA. Last month, 3,800 new jobs were added to the local economy on top of the 31,000 positions created over the eight preceding periods.

This month’s index, however, drops 0.4 points to 96.9 % to reflect this region’s weak job creation record for the month of November, following the 10-year trend for the month of November. Nonetheless, this CMA’s employment status remains “excellent” for a third consecutive month.

Over the past 12 months, employment in the Ottawa-Gatineau region has grown by 3.9 %. This month’s index ranks 1st out of 120, meaning there were 119 months with weaker indices over the past 120 months. Over this same
10-year period, employment has increased by 29 %.

Toronto region: 49.1 % — Unfavourable
Over the past month, the Toronto Census Metropolitan Area (CMA) created 14,200 new jobs. As a result, this CMA’s index climbs 6.4 points to 49.1 % — almost achieving the “fair” employment status abandoned in August 2007.

Over the past 12 months, employment in Toronto has grown by 2.4 %.

This month’s index ranks 68th out of 120, meaning there were 52 months with lower indices over the past 120 months. Over this same 10-year period, from 1997 to 2007, employment in this CMA has increased by 27 %.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO OCTOBER
ONTARIO 96.9 EXCELLENT +8.0
Ottawa-Gatineau Region 96.9 Excellent -0.4
Toronto Region 49.1 Unfavourable +6.4