Finance

Economic and Project Analysis

Posted: November 2018
Employment Commentary, October 2018
Next due: early 2019

Employment Increased by 1.0% in October 2018

Employment in Newfoundland and Labrador increased in October 2018 compared to October 2017. The number employed totalled 229,500, an increase of 2,200 persons or 1.0% relative to 12 months earlier.

The participation rate decreased by 0.3 percentage points to 58.2% and the size of the labour force declined by 1.0%. The unemployment rate decreased by 1.8 percentage point from 12.7% to 10.9%, reflecting the increase in employment and the decline in the labour force.

On an industry basis, employment in the goods sector fell by 1,300 or 2.5% and employment in the services sector increased by 3,500 or 2.0%. Within the goods sector, losses in employment were concentrated in Construction and Agriculture. Within the service sector, the largest employment increases were recorded in Public Administration; Professional, Scientific and Technical Services and Information, Culture and Recreation. The largest declines in employment were in Other Services (down 2,000) and Trade (down 1,600).

The Department of Finance's October 2018 forecast projects employment to remain unchanged over 2017 and the unemployment rate to average 14.5% in 2018.

Labour Force Characteristics
Newfoundland and Labrador
October
Indicator
2017
2018
Change
Labour Force (000s)
260.4
257.7
-1.0%
Employment (000s)
227.3
229.5
1.0%
Unemployment (000s)
33.1
28.2
-14.8%
Unemployment Rate (%)
12.7
10.9
-1.8 pts
Participation Rate (%)
58.5
58.2
-0.3 pts
Employment Rate (%)
51.0
51.8
0.8 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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