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Jobboom Index for October

Employment in Ontario remains stable and “favourable”

Ontario managed to create 29,700 new jobs in September, adding to the 56,100 positions it created since June. This rather strong performance has resulted in a jump of 5.9 points in this month’s Jobboom Index to 88.9 % — a level slightly below the “excellent” threshold. Overall, employment in Ontario has grown by 2.1 % over the past 12 months.

   OCTOBER 2007
   FORECAST
88.9%



FAVOURABLE



The province’s service sector generated a net total of 47,900 new jobs in September. 24,500 of these positions were in educational services as a result of back-to-school hires. New jobs were also created in information, culture and recreation (+ 14,900), public administration (+ 14,300), accommodation and food services (+ 8,100), transportation and warehousing (+ 7,000) as well as in professional, scientific and technical services (+ 6,700). Major losses, however, were reported in trade (-11,300) and in health care and social assistance (-9,900).

Meanwhile, Ontario’s good-producing sector produced negative results in September with a net total of 18,100 layoffs, lead by manufacturing (-10,800), construction (-4,000) and utilities (-3,600). Gains were reported solely in agriculture (+ 1,200).

This month’s index ranks 12th out of 120, meaning there were 108 months with lower indices over the past 120 months. Over this same 10-year period, employment in Ontario has grown by 24 %.

Ottawa-Gatineau region: 97.3 % — Excellent
Employment growth continues for this Census Metropolitan Area (CMA) with the creation of 4,900 jobs in September. Total job creation over the past seven months now stands at 26,100.

This CMA has successfully offset the 24,100 layoffs it suffered between September 2006 and January 2007. As a result, this month’s index climbs 5 points to 97.3 %. From an employment status of “fair” in January 2007, the Ottawa-Gaineau index has increased by 32.1 % to a level considered “excellent.”

Over the past 12 months, employment in this CMA has grown by 2 %. 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 Ottawa-Gatineau region has increased by 29 %.

Toronto region: 42.7 % — Unfavourable
The Toronto Census Metropolitan Area (CMA) lost 1,200 positions over the past month. Combined with this region’s weak job creation record for the month of October (for the past 10 years), this result has led to a 3.5 drop in this region’s Jobboom Index. This CMA’s index now stands at 42.7 % and remains “unfavourable” for a 3rd consecutive month.

Over the past 12 months, employment in Toronto has grown by 1.9 %. This month’s index ranks 81st out of 120, meaning there were 39 months with lower indices over the past 120 months. For this same 10-year period, from 1997 to 2007, employment in this region has grown by 27 %.


  INDEX
(percent)
EMPLOYMENT SITUATION COMPARED TO SEPTEMBER
ONTARIO 88.9 FAVOURABLE 5.9
Ottawa-Gatineau Region 97.3 Excellent +5.0
Toronto Region 42.7 Unfavourable -3.5