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April 06, 2023LABOUR MARKET TRENDS, MARCH 2023 December labour force survey results reflect the period from March 12-18.
Ages 15+ (March 2023 vs February 2023, seasonally adjusted)
Nova Scotia's seasonally adjusted employment decreased 900 (-0.2%) to 496,000 in March 2023. This is the second month of decline that partially reverses the 9,400 increase in employment reported in January.
The change in employment was attributable to a decline in full-time employment (-5,900) and an increase in part-time employment (+5,100). Note that changes in full-time and part-time employment can also reflect changing hours for the same job.
Nova Scotia’s labour force decreased by 1,300 (-0.2%) to 525,800 in March 2023.
With labour force falling and employment declining at a similar rate, Nova Scotia's unemployment rate was unchanged at 5.7% in March 2023. This is still nearly a historic low unemployment rate in modern LFS data that starts in 1976. Annual unemployment rates were lower in the late 1960s and early 1970s.
Nova Scotia's labour force participation rate was down 0.3 percentage points to 61.5% in March 2023. The employment rate was down 0.2 percentage points at 58.0% in March 2023.
Ages 15+ (March 2023 vs March 2022, seasonally adjusted)
Compared with March of 2022, Nova Scotia's population over the age of 15 had increased by 22,300 (+2.7%) while the labour force grew by 11,500 (+2.2%) and employment increased by 17,500 (+3.7%). The unemployment rate decreased by 1.3 percentage points with the participation rate down 0.2 percentage points and the employment rate up 0.6 percentage points.
Ages 15+ (January-March 2023 vs January-March 2022, seasonally adjusted)
Compared with January-March of 2022, Nova Scotia's population over the age of 15 had increased by 22,000 (+2.6%) while the labour force grew by 13,700 (+2.7%) and employment increased by 19,300 (+4.0%). The unemployment rate decreased by 1.2 percentage points with the participation rate up by 0.1 percentage points and the employment rate up 0.8 percentage points.
Age Cohorts (March 2023 vs February 2023, seasonally adjusted)
Among youth (ages 15-24), employment decreased by 900 (-1.0%) and the labour force decreased 1,600 (-2.1%). With a larger decrease in the labour force than employment, the youth unemployment rate was down 0.9 percentage point to 12.0% in March. The youth participation rate was down 1.7 percentage points to 67.2% and the youth employment rate fell 0.9 percentage points to 59.1%.
The population aged 25-54 makes up the largest part of the labour force. In the core age group, employment was up by 600 (+0.2%) and the labour force increased by 2,000 (+0.6%). Because employment increased less than the labour force, the core aged unemployment rate was up 0.4 percentage points to 4.3% in March 2023. The core aged participation rate increased 0.2 percentage points to 87.2% and the core aged employment rate decreased 0.2 percentage points to 83.4%.
Older workers (aged 55+) reported a decrease in labour force (-1,700 or -1.3%) and employment decline (-800 or -0.7%). With labour force decrease more than employment decreasing, the older worker unemployment rate decreased 0.6 percentage points to 5.4%. The older worker participation rate was down 0.5 percentage points to 33.7% and the employment rate for older workers was down 0.3 percentage points to at 31.9%.
Males and Females (Ages 15+, March 2023 vs February 2023, seasonally adjusted)
Monthly employment decreased by 3,000 (-1.2%) for males while the labour force declined 2,700 (-1.0%). With a larger decrease in employment than labour force, the male unemployment rate increased 0.2 percentage points to 6.9% in March. The male participation rate was down 0.8 percentage points to 63.8% and the male employment rate was down 0.9 percentage points to 59.4%.
Females reported increase in both labour force (+1,600 or +0.6%) and employment (2,200 or 0.9%). As the gain in employment gain was larger than the labour force, the female unemployment rate decreased 0.3 percentage point to 4.5% in March. Female participation rates were up 0.3 percentage points to 59.3% and the female employment rate was up 0.4 percentage points to 56.6%.
Overall, last month's labour force and employment declines were among young, older and male workers.
Age and sex cohorts (March 2023 vs March 2022, seasonally adjusted)
Compared with March 2022, the latest month's labour force growth was concentrated among core aged workers (whose population is also growing faster than others). Youth reported a small gain in population, labour force, and employment. Older workers reported declining labour force, even as populations and employment rose. Employment gains over the last year also concentrated among core aged workers. Unemployment was down for all cohorts except youth and males. Female employment and labour force increases were larger than males over the past year.
Age and sex cohorts (January-March 2023 vs January-March 2022, seasonally adjusted)
Comparing the first three months of 2023 with same months last year, labour force and employment gains are mostly among core aged workers. Youth labour force is rising more than employment, increasing unemployment. Among older workers, employment has risen while the labour force declined. Although there were similar population increases, the labour force and employment among females has increased more than among males.
Class of Worker and Industry (March 2023 vs February 2023, seasonally adjusted)
The March 2023 employment change reflected decreases in public sector workers (-600 or -0.5%) and self-employment (-0.5, -0.9%) that were partially offset by rising private sector employees (+200 or +0.1%)
Classified by industry, the employment change from February to March reflected decreases in natural resources, construction, and health care and social assistance and rising employment in education, information/culture/recreation and wholesale trade.
Class of Worker and Industry (March 2023 vs March 2022, seasonally adjusted)
Compared to March 2022, there was a large gain in employment for private sector workers (+18,000 or +6.0%), and small increase for public sector workers (+1,200 or +1.0%) and a decline in self-employment (-1,700 or -2.9%).
Over the last 12 months, employment by industry has risen most for information/culture/recreation, education, and professional/technical services. There were employment losses in business support services and all the goods sectors except manufacturing.
Class of Worker and Industry (January-March 2023 vs January-March 2022, seasonally adjusted)
The average employment levels for January-March 2023 compared to January-March 2022 increased for private sector (+19,800 or +6.6%) and public sector (+2,000 or +1.6%) and decreased for self-employed (-2,500 or -4.2%). The first three months average employment had most notable gains in personal/repair, information/culture/recreation, public administration, and professional/technical. Lower employment was in business support services, agriculture, transportation/warehousing, utilities, and agriculture.
Hours worked and employment (March 2023, unadjusted)
A larger share of workers in transportation/warehousing, construction, manufacturing, and professional/technical services worked more than 40 hours per week in March 2023.
Note that some data on those working few hours in utilities and agriculture were suppressed.
Average weekly earnings (unadjusted, both full time and part time, March 2023 vs March 2022)
Average weekly earnings increased by 5.2% from March 2022 to March 2023. The fastest gains in average weekly earnings were in agriculture, wholesale/retail, accommodation/food services, construction, finance/insurance, business support, and utilities. Average weekly wages were down in forestry, fishing and mining.
The increase in Nova Scotia's all items consumer price index was 6.5% from February 2022 to February 2023.
Average weekly earnings across all employees were $1,053.38 in March 2023. The highest average weekly earnings (both full and part time employees) were reported in utilities, public administration, forestry/fishing/mining, and professional/technical services. The lowest average weekly earnings were in accommodation/food services, wholesale/retail trade, personal/repair services and business support.
Average weekly earnings (unadjusted, both full time and part time, January-March 2023 vs January-March 2022)
Average weekly earnings for the first three months of the year were 5.7% higher than same months last year. Agriculture, business support/call centres, wholesale/retail, utilities, and finance/insurance/real estate reported the fastest growth. Average wages in information/culture/recreation and education reported declines.
Regions (March 2023 vs March 2022, unadjusted 3 month moving average)
Compared with March 2022, the labour force and employment increase was concentrated in Halifax. The labour force was down in Cape Breton, North Shore, nearly unchanged in the Annapolis Valley and increased in Southern. Employment was up in Annapolis Valley and Southern economic region, nearly unchanged in North Shore, and declined in Cape Breton.
Unemployment rates declined in all regions from March 2022 to March 2023. The participation rate and employment rate only increased for Southern and Halifax.
Regions (January-March 2023 vs January-March 2022, unadjusted 3 month moving average)
For the first three months of 2023, Cape Breton and North Shore had labour force declines. Increases in employment and labour force were concentrated in Halifax. Employment was up in Cape Breton, Annapolis Valley and Southern compared to January-March 2022.
Provincial Comparisons (seasonally adjusted)
Canada's labour force grew by 0.1% from February to March. Nova Scotia's labour force declined by 0.2%. Prince Edward Island, Manitoba and Alberta reported the fastest labour force gains over this period. British Columbia reported the largest decline in labour force over the last month.
Compared with March 2022, national labour force was up 1.8% (2.2% in Nova Scotia). The fastest increase was in Alberta, New Brunswick, and Manitoba while Newfoundland and Labrador reported the only decline.
Canada's employment had an increase of 35,000 (+0.2%) from February to March. Prince Edward Island reported the largest employment gains in March. Saskatchewan reported the largest decline in March.
Compared with March 2022, Nova Scotia's employment was up 3.7% in March 2023, outpacing the national gain of 2.2%. The largest increases were in New Brunswick and Alberta and the smallest increases were in British Columbia and Saskatchewan.
The national unemployment rate was 5.0% in March 2023, unchanged from February 2023 and down from 5.3% in March 2022. Quebec had the lowest unemployment rate while Newfoundland and Labrador reported the highest unemployment rate.
The national participation rate was 65.6% in March 2023. The highest participation rates were in Alberta, Saskatchewan, and Manitoba while the lowest was in Newfoundland and Labrador.
The national employment rate was 62.4% in March 023. Alberta reported the highest employment rate while Newfoundland and Labrador reported the lowest.
Census Metropolitan Areas (March 2023, seasonally adjusted 3 month moving average)
The Halifax unemployment rate was 4.5% in the seasonally adjusted March 2023 three month moving average. This was below the national average, with the rest of Nova Scotia above at 6.6%. In central and western provinces, unemployment rates in Census Metropolitan Areas are similar to or higher than unemployment rates outside CMAs. In the Atlantic Provinces unemployment rates are typically higher outside CMAs.
Halifax's participation rate was 68.4% in the seasonally adjusted March 2023 three month moving average while participation rates were 55.8% across the rest of the province.
Halifax reported an employment rate of 65.3% in the seasonally adjusted March 2023 three month moving average while the employment rate was 52.1% outside the city.
Sources: Statistics Canada. Table 14-10-0036-01 Actual hours worked by industry, monthly, unadjusted for seasonality; Table 14-10-0063-01 Employee wages by industry, monthly, unadjusted for seasonality; Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months; Table 14-10-0380-01 Labour force characteristics, three-month moving average, seasonally adjusted; Table 14-10-0387-01 Labour force characteristics, three-month moving average, unadjusted for seasonality, last 5 months; Table 14-10-0355-01 Employment by industry, monthly, seasonally adjusted and unadjusted, and trend-cycle, last 5 months (x 1,000); Table 14-10-0288-01 Employment by class of worker, monthly, seasonally adjusted and unadjusted, last 5 months (x 1,000); Table: 14-10-0380-02 Labour force characteristics, three month moving average, seasonally adjusted (x 1,000)
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