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Jobboom Index for November

The Jobboom Index Drops as Jobs Are Lost

Ontario lost 2,900 jobs in October. This counter performance has gnawed away a small part of the 66,200 jobs that were created over the preceding two months. The Index for Ontario this looses 4.4 points and returns to a “favourable” level after spending the last month at “excellent”. It is set at 89.1 % for November.

October’s best performance comes from the Goods-producing sector, which has reported a negligible increase of 800 jobs. Increases were mostly seen in Agriculture (+ 3,300), Manufacturing (+ 2,400), and Forestry, fishing, mining, oil and gas (+ 400). Construction is responsible for most of the losses (-5,000), even if Utilities also saw losses (-300).

   NOVEMBER 2008
   FORECAST
89.1%

FAVOURABLE

Services lost 3,700 jobs in October. The losses are associated with six sub-sectors: Accommodation and food services (-21,600), Healthcare and social assistance (-12,000), Finance, insurance, real estate and leasing (-4,800), Transportation and warehousing (-3,900), Commerce (-3,400), and Information, culture and recreation (-2,900). However, other sub-sectors saw increases: Public administration (+ 19,500), Educational services (+ 7,500), Corporate services, Business, building and other support services (+ 5,100), and Professional, scientific and technical services (+ 3,100).

Over the past 12 months, employment has grown by 1.1 % in the province. This month’s Index ranks 16th out of 120, meaning there were 104 months with weaker indices over the past 10 years. From October 1998 to October 2008, employment in this province has risen by 22 %.

Ottawa-Gatineau region: 96.9 % — Excellent
In October, this CMA has seen the addition of 1,900 jobs, which brings the total of newly-created jobs to 14,400 in the region over six consecutive months. However, the Ottawa-Gatineau Index is down 0.1 point at 96.9 %, because the data compiled by Statistics Canada over the past 10 years show a downwards trend in job creation in this region during the month of November. The stays at the “excellent” level for a fifth straight month.

Over the past 12 months, employment in this Census Metropolitan Area (CMA) has grown by 2.2 %. This month’s Index ranks 2nd out of 120, meaning there were 118 months with weaker indices over the past 10 years. From October 1998 to October 2008, employment in this region has risen by 32 %.

Toronto region: 27.5 % — Unfavourable
In October, this CMA has created 14,100 jobs, which follows the trend started in the previous month. Overall, this region has seen the addition of 15,600 jobs in September and October, which counteracts the losses from the previous three months (-45,600) by a third. This allows the Jobboom Index to increase by 3.8 points in November for this region. However, this does not allow the region to exit the “unfavourable” mark, with 27.5 %.

Over the past 12 months, employment in the Toronto region has grown by 1.9 %. This month’s Index ranks 108th out of 120, meaning there were
12 months with weaker indices over the past ten years. From October 1998 to October 2008, employment in this CMA has risen by 25 %.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO OCTOBER
ONTARIO 89.1 FAVOURABLE -4.4
Ottawa-Gatineau Region 96.9 Excellent -0.1
Toronto Region 27.5 Unfavourable 3.8