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July 07, 2017LABOUR MARKET TRENDS - JUNE 2017 Nova Scotia's seasonally adjusted employment decreased by 1,900 to 448,300 in June 2017. This follows modest changes in April and May.
Compared to May, Nova Scotia’s labour force increased by 3,200 to 491,800 in June. With labour supply growing and employment falling, the net result was a 0.9 percentage point increase in the seasonally adjusted unemployment rate to 8.8 per cent in June. With the increase in the labour supply outpacing growth in the working age population (+400) the participation rate increased 0.4 percentage points to 62.1 per cent for the month. With a decrease in the employment level (-1,900), the employment rate declined to 56.6 per cent.
In June, the decrease in employment was in both full-time (-800) and part-time (-1,000) jobs.
During the first six months of 2017 compared to the first six months of 2016, there was an increase of 3,600 (0.8 per cent) in the average employment level. Average full time employment was down 1,700 while there were 5,300 more part-time workers. The labour force was up 2,300 for the first six months of 2017. With labour demand increasing at a faster pace than the labour supply, the net result was a decline in the average unemployment rate by 0.3 percentage points to 8.2 per cent. The labour force participation rate increased 0.1 percentage points to 62.0 per cent. The employment rate increased by 0.3 percentage points to 56.9 per cent.
AGE COHORTS (January-June 2017 vs. January-June 2016)
The labour force survey population estimate of the 15-24-year age group declined by 1,400 comparing the first six months of 2017 to the first six months of 2016. The age group saw a decline of 2,600 in the labour force and 2,600 in employment during this period as the number of unemployed stayed the same. The unemployment rate edged up 0.6 percentage points to 15.7 per cent for the first six months of 2017 over the same period in 2016. The larger decline in employment compared to the decline in population led to a 1.7 percentage point decline in the employment rate to 53.6 per cent.
For Nova Scotians aged 25 to 54, the labour force increased by 800 and employment increased 2,400 in the first six months of 2017 compared to the first six months of 2016. With strong growth in labour demand and falling labour supply, the net result was a 0.5 percentage points decline in the unemployment to 6.9 per cent. With a rising labour force and a falling population (-3,400), the labour force participation rate for Nova Scotians aged 25 to 54 increased 1.0 percentage points to 86.3 per cent. The employment rate rose 1.4 percentage points to 80.4 per cent.
For those Nova Scotians aged 55 and over, the population, labour force and employment have all increased comparing the first six months of 2017 to the first six months of 2016. Employment increased by 3,800 and the labour force increased by 4,100. Overall, unemployment increased by 200. The proportionately faster rise in employment caused the unemployment rate to decline 0.1 percentage points to 7.3 per cent. The participation rate and employment rate both increased for this age group, rising to 34.8 per cent and 32.2 per cent respectively. Over half of the year to date gains in part time work are in the 55 and over age cohort. This cohort has seen a recent upswing in part time employment, while full time employment has been stable or dropping slightly in recent months.
SECTORS (January-June 2017 vs. January-June 2016)
Comparing the first six months of 2017 to the first six months of 2016, employment in goods-producing sectors decreased by 400 jobs. Employment gains in agriculture and utilities were not enough to offset a loss in construction, manufacturing and forestry/fishing/mining/gas.
There was a net gain of 4,000 jobs in service-producing sectors. Strong employment gains in wholesale/retail trade, professional services, and public administration were enough to override the job losses in financial services, educational services, accommodation/food services, health care, information and cultural industries, and transportation and warehousing.
The increase in employment for the first six months of 2017 over the same period in 2016 occurred with employees increasing by 3,200 and the self-employed increasing by 500. The gain in employees occurred with a gain of 3,200 jobs in public sector and almost no change in the private sector.
Regions (3 month moving average, January-June 2017 vs. January-June 2016)
For the first six months of 2017 compared to the first six months of 2016, the Cape Breton, North Shore, and Annapolis regions reported employment growth that outpaced labour force growth, resulting in lower average unemployment rates. The Southern and Halifax economic regions showed employment falling faster than labour supply, causing a falling unemployment rate in the Southern region and no change in the unemployment rate for Halifax.
The Cape Breton region reported an increase in employment of 1,000 (2.3 per cent) for the first six months of 2017 over the first six months of 2016. The labour force decreased by 300 (-0.5 per cent) for the same period. With labour demand increasing while labour supply fell, the result was a 2.4 percentage point decrease in the unemployment rate to 14.7 per cent.
For the North Shore region, employment increased 1,700 (2.5 per cent) for the first six months of 2017 over the same period in 2016. Labour supply increased by 1,300 (1.7 per cent) for the same period. The increase in labour demand resulted in a 0.7 percentage point decline in the unemployment rate to 9.3 per cent.
The Annapolis region showed an increase in employment of 800 (1.4 per cent) and an increase in the labour force of 400 for the first six months of 2017 over the same period in 2016. The net result was decrease of 0.6 percentage points in the average unemployment rate to 8.4 per cent.
The Southern region saw a decrease of 100 (-0.1 per cent) in employment along with a drop of 200 in the labour force for the first six months of 2017 over the first six months of 2016. The unemployment rate was down 0.2 percentage points to 10.5 per cent.
Comparing the first six months of 2017 to the first six months of 2016, Halifax (HRM) experienced an decrease in employment of 300 (-0.1 per cent) along with a decline of 100 (-0.0 per cent) in the labour supply. These slight adjustments result in no change to the unemployment rate, still at 6.8 per cent.
Provincial Comparisons
Employment increased 1.6 per cent in Canada comparing January-June 2017 with January-June 2016. Employment grew on a year-to-date basis in nine provinces with the largest gains in British Columbia (+3.8%), Prince Edward Island (+3.0%), and Quebec (+2.3%). Employment in Newfoundland and Labrador (-3.5%) declined over the first six months of 2017 compared to 2016.
The Nova Scotia unemployment rate was 8.8 per cent in June 2017. In June of last year, the Nova Scotia unemployment rate was 8.1 per cent. Six provinces have lower unemployment rates compared to the same month a year ago, with New Brunswick (-2.0 percentage points) having the steepest decline. The unemployment rate was higher in Newfoundland and Labrador (+2.9 percentage points) compared to June 2016. The lowest unemployment rate among the provinces in June 2017 was in BC at 5.1 per cent while the highest was in Newfoundland and Labrador at 14.9 per cent.
National Comparisons: Cities
The seasonally adjusted unemployment rate for the Halifax Census Metropolitan Area this month was 6.9 per cent. Kelowna (3.6%) had the lowest unemployment rate for a CMA this month while the highest was in Calgary (8.9%)
The seasonally adjusted employment rate for the Halifax Census Metropolitan Area was lower than last month at 62.9 per cent in June 2017.
The three month average employment ending in June for the Halifax CMA decreased 0.1 per cent compared to the three month period ending in May. The largest gain among CMAs was in Saguenay, Quebec, where employment rose 2.4 per cent.
Note: Seasonally adjusted, 3 month average.
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