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Jobboom Index for October

Weak job creation results in insignificant Index increase


The Jobbom Index forecast climbs slightly for the month of October (+0.2). The rather insignificant increase follows weak employment gains for the month of September (+4,700). Last month, following 5 consecutive periods with positive results, Ontario's Index suffered its first setback following the loss of 18,800 jobs. Consequently, the province's employment status fell from “excellent” to “favourable”. Compared over the past 120 months, October's Index ranks 19th, with 101 months with lesser Indices. The total number of jobs in Ontario now stands at 6,341,100. Over the past 10 years, from September 1994 to September 2004, employment has increased by 25 percent.

   OCTOBER 2004
   FORECAST
84.6%



FAVOURABLE



Toronto's Regional Index: 83.2 percent
Toronto's Index drops 9 points for October following the loss of 14,000 jobs over the past month. In September, after 4 consecutive monthly increases, Toronto's Index recorded its first drop. Although slight, the downturn, nonetheless, reflected insufficient job creation compared to the number of new positions created over the previous periods (+58,900). September's losses only accentuate this situation, resulting in a drop in Toronto's employment status from “excellent” to “favourable”. This month's Jobboom Index for Toronto ranks 35th out of 120, leaving 85 months with lesser Indices over the past ten years. From September 1994 to September 2004, the number of jobs in Toronto increased from 2,018,100 to 2,761,200—an increase of 37 percent.

Ottawa-Gatineau's Regional Index: 78.9 percent
The Jobboom Index for Ottawa-Gatineau climbs 3.1 points for October. This follows the creation of 3,800 positions in September, after a loss of 600 jobs over the previous month. September's new positions, however, add to employment gains for July (+6,400) and for the two preceding months (+2,500 and +1,300). This month's Index ranks 20th out of 120, leaving 100 months with lesser Indices over the past ten years. From September 1994 to September 2004, the number of jobs in the region increased from 500,500 to 619,500—an increase of 24 percent.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO SEPTEMBER
ONTARIO 84.6 FAVOURABLE +0.2
Toronto Region 83.2 Favourable -9.0
Ottawa-Gatineau Region 78.9 Favourable +3.1