Regional unemployment rate drops to three per cent

PERTH-HURON-BRUCE – In October, the unemployment rate for the Stratford-Bruce Peninsula Economic Region saw another decrease by 0.6 percentage points from 3.6 per cent to three per cent, which is the lowest in 2021 so far.

This unemployment rate is also the lowest among economic regions in Ontario.

Meanwhile, the provincial unemployment rate decreased to 7.4 per cent, with both rates unadjusted for seasonality.

Overall net employment in the region remained unchanged at 162,200, with full-time losses (-400) and part-time gains (300).

The number of goods-producing sector workers increased by net 200. The main driving force came from positive gains in construction (2,200) while the biggest losses were in agriculture (-1,000). This has been the third consecutive increase of employment in construction.

Employment in the services-producing sector decreased by net 300. The biggest losses came from professional, scientific and technical services (-1,200) and accommodation and food services (-2,100) while the greatest gains continued to be in health care and social assistance (1,800).