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January 05, 2024LABOUR MARKET TRENDS, DECEMBER 2023 December labour force survey results reflect the period from December 3 to 9, 2023.
Ages 15+ (December 2023 vs November 2023, seasonally adjusted)
Nova Scotia's seasonally adjusted employment increased 6,300 (+1.3%) to 508,600 in December 2023, following a decrease of 700 (-0.1%) in employment the previous month.
The change in employment was attributable to an increase in part-time employment (8,000) offset by a decrease in full-time employment (-1,700). Note that changes in full-time and part-time employment can also reflect changing hours for the same job.
Nova Scotia’s labour force was up 2,600 (+0.5%) in December 2023.
With a faster increase in employment compared to the labour force, Nova Scotia's unemployment rate was down 0.8 percentage points to 6.0% in December 2023.
Nova Scotia's labour force participation rate was up 0.2 percentage points to 61.9% in December 2023. The employment rate was up 0.6 percentage points to 58.1% in December 2023.
Ages 15+ (December 2023 vs December 2022, seasonally adjusted)
Compared with December 2022, Nova Scotia's population over the age of 15 increased by 25,000 (+2.9%), while the labour force grew by 16,700 (+3.2%), and employment increased by 16,400 (+3.3%). The unemployment rate was down 0.2 percentage points with the participation rate up 0.2 percentage points and the employment rate up 0.2 percentage points.
Age Cohorts (December 2023 vs November 2023, seasonally adjusted)
Among youth (ages 15-24), employment increased 800 (+1.2%) while the labour force fell by 500 (-0.6%). With growth in employment and a decline in the labour force, the youth unemployment rate was down 1.7 percentage points to 12.1% in December. The youth participation rate was down 0.7 percentage points to 66.1% and the youth employment rate was up 0.4 percentage points to 58.0%.
The population aged 25-54 makes up the largest part of the labour force. In the core age group, employment was up 4,200 (+1.3%) while the labour force grew by 2,900 (+0.9%). Because employment grew faster than the labour force, the core aged unemployment rate dropped 0.5 percentage points to 4.7% in December 2023. The core aged participation rate increased 0.6 percentage points to 88.4% and the core aged employment rate rose 0.9 percentage points to 84.2%.
Older workers (aged 55+) reported an increase in the labour force of 100 (+0.1%) while employment was up 1,200 (+1.0%). With employment rising faster than the labour force, the older worker unemployment rate lowered by 0.8 percentage points to 5.9%. The older worker participation rate was unchanged at 33.4% and the employment rate for older workers increased 0.3 percentage points to 31.4%.
Males and Females (Ages 15+, December 2023 vs November 2023, seasonally adjusted)
Monthly employment increased by 1,100 (0.4%) for males while the labour force increased by 100 (+0.04%). With a smaller increase in labour force than employment, the male unemployment rate decreased 0.3 percentage points to 6.9% in December. The male participation rate was down 0.1 percentage points to 64.7% and the male employment rate increased 0.1 percentage points to 60.2%.
Females reported an increase in employment of 5,200 (+2.1%) while the labour force grew by 2,400 (+0.9%). With employment increasing more than the labour force, the female unemployment rate lowered by 1.1 percentage point to 5.2% in December. Female participation rates were up 0.5 percentage points to 59.2% and the female employment rate was up 1.0 percentage points to 56.1%.
Overall, last month's labour force and employment gains were concentrated within the core working age group and higher for females compared to males.
Age and sex cohorts (December 2023 vs December 2022, seasonally adjusted)
Compared with December 2022, labour force and employment growth was concentrated among core aged workers (whose population is also growing more than others). Youth (15-24) labour force and employment both had small increases. The older cohort (55+) had an increase in population but a notably smaller increase in labour force and employment. Male population, labour force, and employment have increased more than females compared to December 2022.
Class of Worker and Industry (December 2023 vs November 2023, seasonally adjusted)
The December 2023 employment change reflected increases in private sector workers (+1,500 or +0.5%), public sector workers (+4,500 or +3.7%) and self-employed (+300 or +0.5%).
Classified by industry, the largest employment increases from November to December were in education and public administration. The largest declines in employment were in information/culture/recreation, professional/technical/scientific services and agriculture.
Class of Worker and Industry (December 2023 vs December 2022, seasonally adjusted)
Compared to December 2022, there were gains in employment for private sector workers (+12,500 or +4.0%), public sector workers (+3,000 or +2.4%) and self-employed (+900 or +1.6%).
Over the last 12 months, employment was up in most sectors with the largest gains in education, accommodation/food services, wholesale/retail trade, and finance/insurance/real estate. There were notable employment declines in health care and social assistance (including daycare), construction and forestry/fishing/mining.
Hours worked and employment (December 2023, unadjusted)
Compared to the provincial average, a larger share of workers in agriculture, forestry/fishing/mining, construction, manufacturing, transportation/warehousing, worked more than 40 hours per week in December 2023.
Note that some data on those working few hours in utilities, forestry, fishing, and mining and agriculture were suppressed.
Average weekly earnings (unadjusted, both full time and part time, December 2023 vs December 2022)
Average weekly earnings increased by 6.3% from December 2022 to December 2023. The fastest gains in average weekly earnings were in manufacturing, construction, professional/technical/scientific, personal/repair services and public administration. Business support including call centres and forestry/fishing/mining registered declines in average weekly earnings from December 2022.
The increase in Nova Scotia's all items consumer price index was 2.5% from November 2022 to November 2023.
Average weekly earnings across all employees were $1,088.86 in December 2023. The highest average weekly earnings (both full and part time employees) were reported in forestry/fishing/mining, utilities, professional/technical services, and public administration. The lowest average weekly earnings were in accommodation/food services, wholesale/retail trade and business support services.
Regions (December 2023 vs December 2022, unadjusted 3 month moving average)
Compared with December 2022, the labour force and employment increase was concentrated in Halifax. North Shore reported gains in employment outpacing gains in labour force. Annapolis Valley reported faster gains in labour force than employment compared to December 2022. Cape Breton and Southern Nova Scotia reported declines in labour force and employment compared to one year ago.
Unemployment rates dropped in Halifax, Southern Nova Scotia, and the North Shore, while the unemployment rates increased in Cape Breton and Annapolis Valley. The employment rate increased in Halifax, Annapolis Valley, and the North Shore. Participation rates rose for the North Shore and Annapolis Valley.
Provincial Comparisons (seasonally adjusted)
Canada's labour force was up slightly from November to December, while Nova Scotia's labour force increased 0.5%. The largest increase in percentage terms among provinces was in Newfoundland and Labrador. Quebec, Ontario and Manitoba were the only provinces to report a decline in the labour force compared to the previous month.
Compared with December 2022, the national labour force was up 3.0% (+3.2% in Nova Scotia). The fastest increase was in Prince Edward Island while the slowest growth was in Newfoundland and Labrador.
Canada's employment was virtually unchanged from November to December, with declines in Ontario largely offsetting gains in eight other provinces. Nova Scotia reported the fastest gain while the largest decline was in Ontario. Compared with December 2022, Nova Scotia's employment was up 3.3%, faster than the national gain of 2.2%. The largest increase in percentage terms was in Prince Edward Island while the slowest growth was in Newfoundland and Labrador.
The national unemployment rate was 5.8% in December 2023, unchanged from November, and up from 5.0% in December 2022. Manitoba had the lowest unemployment rate while Newfoundland and Labrador reported the highest unemployment rate in December.
The national participation rate was 65.4% in December 2023. The highest participation rate was in Alberta while the lowest was in Newfoundland and Labrador.
The national employment rate was 61.6% in December 2023. Alberta reported the highest employment rate while Newfoundland and Labrador reported the lowest.
Census Metropolitan Areas (December 2023, seasonally adjusted 3 month moving average)
The Halifax unemployment rate was 5.1% in the seasonally adjusted December 2023 three month moving average. Outside of Halifax the unemployment rate was 8.0%. 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 68.1% in the seasonally adjusted December 2023 three month moving average, while participation rates were 56.0% across the rest of the province.
Halifax reported an employment rate of 64.6% in the seasonally adjusted December 2023 three month moving average, while the employment rate was 51.5% 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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