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Jobboom Index for September

Jobboom Index drops from “excellent” status to “favourable”

Ontario suffered a second consecutive month of job losses in August (- 15,200) for a total loss of 21,000 positions over the past two months. Thus, this month’s Jobboom Index drops 8.5 points to 84.0 percent and Ontario’s employment status falls from “excellent” to “favourable”.

While the goods producing sector reported a small fluctuation (+ 3,700), the services sector suffered rather important setbacks (- 19,000). Educational services, for instance, reported the loss of 19,100 positions while 12,900 positions were lost in finance, insurance, real estate and leasing. Meanwhile, transportation and warehousing saw the creation of 10,800 jobs and 8,600 positions were created in health services and social assistance.

Over the past 12 months, employment in Ontario grew by 1.5 percent. This month’s Index ranks 45th out of 120, meaning there were 75 months with lesser Indices over the past 10 years. For this same 10-year period, employment in the province grew by 25 percent.

   SEPTEMBER 2006
   FORECAST
84%

FAVOURABLE

Census Metropolitan Areas (CMAs)

Ottawa-Gatineau region: 96.3 percent — Excellent
After having maintained its Index above 97 percent for the past 3 consecutive months, the Ottawa-Gatineau Census Metropolitan Area (CMA) drops by a few tenths of a percent, to 96.3. While this CMA reported a modest employment gain in August (+ 700), it is also influenced by the historical trends of the past ten years that predict an employment downturn for this period. Over the past 12 months, employment in Ottawa-Gatineau grew by 6.7 percent. This month’s Index ranks 3rd out of 120. In other words, there were 117 months with lesser Indices over the past 10 years. For this same 10-year period, employment for this CMA increased by 30 percent.

Toronto region: 71.3 percent — Fair
The Toronto Census Metropolitan Area (CMA) lost 6,200 jobs in August, cutting into gains of 33,200 achieved over the five previous periods. This CMA has yet to recover the 34,700 positions it lost over the first few months of the year. Over the past 12 months, employment for this region has, nonetheless, increased by 1.0 percent. This month’s Index ranks 56th out of 120, meaning there were 64 months with lesser Indices over the past 10 years. From August 1996 to August 2006, employment for this CMA grew by 32 percent.

  INDEX
(percent)		 EMPLOYMENT SITUATION COMPARED TO AUGUST
ONTARIO 84 FAVOURABLE -8.5
Ottawa-Gatineau Region 96.3 Excellent -0.8
Toronto Region 71.3 Fair -0.2