Finance

Economic and Project Analysis

Posted: April 2017
Employment Commentary, February 2017
Next due: late June 2017

Employment Decreased by 2.9% in February 2017

Employment in Newfoundland and Labrador decreased in February 2017 over February 2016. The number employed totalled 213,700, a decrease of 6,400 persons or 2.9% relative to 12 months ago.

The participation rate decreased by 1.5 percentage points to 57.6% and the size of the labour force declined by 2.1%. As the size of the labour force did not shrink as much as employment, the unemployment rate increased from 16.0% to 16.7%.

On an industry basis, goods sector employment decreased by 3,700 (down 8.7%) and service sector employment decreased by 2,700 (down 1.5%) in February 2017. Within the goods sector, the largest employment losses were recorded in Forestry, Fishing, Mining, Oil and Gas (down 3,200), and Manufacturing (down 1,500). As for the services sector, the largest employment declines were recorded in Trade (down 3,200), Finance, Insurance, Real Estate and Leasing (down 1,900), and Accommodation and Food Services (down 1,900). Notable employment gains were recorded in Transportation and Warehousing (up 2,000) and Public Administration (up 1,500).

The Department of Finance's March 2017 forecast projects employment to decrease by 1.9% and the unemployment rate to average 13.9% in 2017.

Labour Force Characteristics
Newfoundland and Labrador
February
Indicator
2016
2017
Change
Labour Force (000s)
262.0
256.5
-2.1%
Employment (000s)
220.1
213.7
-2.9%
Unemployment (000s)
41.9
42.8
2.1%
Unemployment Rate (%)
16.0
16.7
0.7 pts
Participation Rate (%)
59.1
57.6
-1.5 pts
Employment Rate (%)
49.6
48.0
-1.6 pts
pts: percentage point change
Percent and actual changes based on unrounded monthly averages
Source: Statistics Canada, Labour Force Survey and Economic Research and 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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