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Jobboom Index for September

Job losses in Ontario: Jobboom Index tumbles

At 84.4 percent, Ontario's Jobboom Index forecast is down (-8,4 points) for the first time in 5 months. September's forecast reflects the loss of 18,800 jobs in August and accounts for the drop in the province's employment status from “excellent” to “favourable”. This follows a rather weak employment gain (+8,600) for the previous month, compared to more substantial job creation, 3 months prior (+17,700, +30,800 and +14,300). This month's Index ranks 20th compared to 100 months with weaker Indices over the past 120 months. The total number of jobs in Ontario now stands at 6,336,400. Over the past 10 years, from August 1994 to August 2004, employment has increased by 25 percent.

   SEPTEMBER 2004
   FORECAST
84.4%

FAVOURABLE

Toronto's Regional Index: 92.2 percent
Following 4 consecutive monthly increases, Toronto's Jobboom Index reports a slight drop for September (-0.3 points)—an insignificant drop, despite the creation of 4,500 jobs. Employment gains for the past month are rather slight when compared to total gains for previous periods (+58,900). September's Index ranks 11th ahead of 109 months with weaker Indices over the past 120 months. From August 1994 to August 2004, employment rose from 2,011,600 to 2,775,20—an increase of 38 percent.

Ottawa-Gatineau's Regional Index: 75.8 percent
The Jobboom Index for Ottawa-Gatineau is down 2.9 points as a result of 600 lost jobs in August, following gains of 6,400, 2,500 and 1,300 positions over the previous months. September's Index ranks 23rd out of 120, ahead of 97 months with weaker Indices over the past 120 months. Employment in the region rose from 503,900 to 615,700 from August 1994 to August 2004—an increase of 22 percent over the past ten years.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO AUGUST
ONTARIO 84.4 FAVOURABLE -8.4
Toronto Region 92.2 Excellent -0.3
Ottawa-Gatineau Region 75.8 Favourable -2.9