Finance

Economic and Project Analysis

Posted: March 2018
Employment Commentary, February 2018
Next due: late June 2018

Employment Decreased by 0.7% in February 2018

Employment in Newfoundland and Labrador decreased in Feburary 2018 compared to Feburary 2017. The number employed totalled 212,100, a decrease of 1,600 persons or 0.7% relative to 12 months earlier.

The participation rate decreased by 0.7 percentage points to 56.9% and the size of the labour force declined by 1.4%. 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 16.7% to 16.1%.

On an industry basis, employment in the goods sector rose by 1,400 or 3.6% while employment in the services sector fell by 2,900 or 1.7%. Within the goods sector, Construction, Fishing and Forestry 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 3,400); Professional, Scientific and Technical Services (down 1,800); and Information, Culture and Recreation (down 900).

The Department of Finance's March 2018 forecast projects employment to decrease by 1.0% and the unemployment rate to average 14.8% in 2018.

Labour Force Characteristics
Newfoundland and Labrador
February
Indicator
2017
2018
Change
Labour Force (000s)
256.5
252.9
-1.4%
Employment (000s)
213.7
212.1
-0.7%
Unemployment (000s)
42.8
40.8
-4.7%
Unemployment Rate (%)
16.7
16.1
-0.6 pts
Participation Rate (%)
57.6
56.9
-0.7 pts
Employment Rate (%)
48.0
47.7
-0.3 pts
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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