Finance

Economic and Project Analysis

Posted: November 2017
Employment Commentary, October 2017
Next due: January 2018

Employment Decreased by 1.6% in October 2017

Employment in Newfoundland and Labrador decreased in October 2017 over October 2016. The number employed totalled 227,300, a decrease of 3,600 persons or 1.6% relative to 12 months ago.

The participation rate decreased by 1.4 percentage points to 58.5% and the size of the labour force declined by 3.0%. The drop in the labour force was greater than the decline in employment and consequently the unemployment rate declined by 0.6 percentage point from 13.3% to 12.7%.

On an industry basis, the goods sector recorded a slight increase in employment (200 or 0.4%). Employment in the services sector fell by 3,800 or 2.1%. Within the goods sector, Manufacturing employment increased, however losses were recorded in Mining & Oil and Gas Extraction. Within the service sector, the largest employment declines were recorded in Trade (down 2,100); Professional, Scientific and Technical Services (down 1,700); Public Administration (down 1,400); and Health Care and Social Assistance (down 1,300).

The Department of Finance's November 2017 forecast projects employment to decrease by 4.1% and the unemployment rate to average 15.1% in 2017.

Labour Force Characteristics
Newfoundland and Labrador
October
Indicator
2016
2017
Change
Labour Force (000s)
266.4
260.4
-2.3%
Employment (000s)
230.9
227.3
-1.6%
Unemployment (000s)
35.5
33.1
-6.8%
Unemployment Rate (%)
13.3
12.7
-0.6 ppts
Participation Rate (%)
59.9
58.5
-1.4 ppts
Employment Rate (%)
51.9
51.0
-0.9 ppts
pts: percentage point change
Percent and actual changes based on unrounded monthly averages
Source: Statistics Canada, Labour Force Survey and Economic and Project Analysis, Department of Finance

Glossary terms:
Labour Force | Employed | Unemployed | Unemployment Rate | Participation Rate | Employment Rate

Statistical Reference: Statistics used in this analysis were current at the time of writing. For the latest in employment statistics visit the Newfoundland & Labrador Statistics Agency site and the release dates on the Statistics Canada site.


 
Economic and Project Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca

 
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