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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

January 10, 2025
LABOUR MARKET TRENDS, ANNUAL 2024

 **NOTE - Statistics Canada has revised the labour force survey results.  The charts and analysis in this article have been updated.**

Ages 15+ (2024 vs 2023, annual averages)

Compared with the annual average from 2023, Nova Scotia's population of working age grew by 25,200 (+2.9%) on average in 2024.  The labour force increased 3.3% (+17,900) while employment grew 3.2% (+16,000).  With slightly stronger growth in labour force than employment, Nova Scotia's annual average unemployment rate rose 0.1 percentage points to 6.5%. 

Full time employment was up by 14,600 and part time employment was up 1,500 (including changes of hours within the same position). 

There was an increase in the number of persons not in the labour force of 7,300 (+2.2%) while the number of unemployed persons rose 1,900 (+5.5%).

As labour force grew faster than the population, Nova Scotia's participation rate rose to 61.8% in 2024.  Rising employment pushed the annual average employment rate up to 57.8% for 2024.  

Age and sex cohorts (2024 vs 2023, annual average)

In 2024, the population of males grew slightly faster than the population of females, as did male employment and labour force.  

Across broad age cohorts, the largest increases in labour force and employment were reported among the core working age (25-54) - this age cohort also has much larger population than youth (15-24) or older workers (55+).  Among youth the increase in population was larger than the growth of labour force and employment. Youth also saw a small rise in the number of unemployed and a larger rise in the number not in the labour force.  The population of older workers rose in 2024 along with gains in both labour force and employment as well as the number of persons not in the labour force (persons not in the labour force includes retirees).

Within specific age cohorts, both employment and labour force were down for those aged 15-19.  There was notably strong growth in employment and labour force for those aged 20-24 as well as those aged 25-29.  Employment was down for those aged 30-34 while there was limited labour force increase (despite rising population) and a larger rise in unemployment and persons not in the labour force.  

The 35-39 year old age cohort also reported labour force and employment growth that outpaced population increase.  For those aged 40-44, labour force and employment gains were slower than population growth.  For those aged 45-49, there was a notable increase in employment despite little change in population or labour force. Among those aged 50-54, population growth was slow with small gains in both labour force and employment.

Those aged 55-59 reported a smaller population, with employment declining faster than labour force and a slight rise in unemployment. Among those aged 60-64 and 65-69, the growth in labour force and employment outpaced rising population.  Among those aged 70 and over, the population increase was primarily concentrated among those not in the labour force. 

Unemployment rates in 2024 were higher for younger cohorts and lowest for those in the middle of the core working ages. Males (aged 15+) had higher unemployment rates compared to females of the same age.

Participation rates were highest for those aged 25-54.  Participation rates were similar for those aged 20-24 and 55-59.  Participation rates are lower for those over age 60 as well as those under 20.  Males had higher participation rates than females.

As with participation rates, employment rates were highest for those aged 25-54.  Like participation rates, employment rates were similar for those aged 20-24 and 55-59, but fall off substantially for those over age 60 and under age 20. As with participation rates, males had higher employment rates than females in 2024.

Class of worker and industry (2024 vs 2023, annual average)

Nova Scotia's annual employment increase was primarily due to higher public sector employment (+15,600) with a smaller gain in private sector employment (+7,500).  Self employment was down by 6,900. 

Among industries, the rise in annual employment was primarily from gains in public administration, accommodation/food services, health/social/daycare, education and construction. There were notable employment declines for business support/call centres, professional/technical services and agriculture. 

Wholesale/retail and health/social assistance (including daycares) remain the largest broad industries of employment in Nova Scotia, followed by education, construction, public administration, professional/technical services, manufacturing and accommodation/food services.

Hours worked (2024 annual average)

A larger portion of workers in services industries had part-time hours (less than 30 hours/week).  Workers in goods industries generally reported a higher portion of employment with over 40 hours per week.   

Average weekly wages (2024 vs 2023, annual average)

Nova Scotians' average weekly earnings amounted to $1,139.62 in 2024, up from $1,071.13 in 2023.  Average weekly wages were highest in forestry/fishing/mining, utilities, public administration and professional/technical services.  The lowest average weekly earnings were reported in accommodation/food, wholesale/retail, business support/call centres and agriculture.

Average weekly earnings were up 6.4% from 2023 to 2024.  After reporting the largest annual increase in 2023, agriculture reported the steepest decline in annual average weekly earnings in 2024.  Finance/insurance/real estate and education were the only other industries to report declining average weekly earnings in 2024.  There were notable increases in average weekly earnings for personal/repair services, health/social/daycare, professional/technical services, manufacturing and utilities.   

Regions (2024 vs 2023, annual average)

All regions reported increases in population of working age. Labour force and employment were each up in every region except Southern Nova Scotia, where employment contracted faster than labour force and drove the unemployment rate up.  In the North Shore, Annapolis Valley and Halifax regions, labour force growth outpaced rising employment, driving annual average unemployment rates up.  In Cape Breton, the average annual unemployment rate was down as employment grew faster than the rise in labour force.    

Unemployment rates were down in Cape Breton, up in the North Shore, Annapolis Valley and Southern Nova Scotia regions and unchanged in Halifax. Cape Breton reported the highest unemployment rate in 2024 while Halifax had the lowest.

Participation rates were up overall in Nova Scotia in 2024.  Participation rates rose in Cape Breton and Halifax and declined in the North Shore, Annapolis Valley and Southern Nova Scotia regions.  Halifax reported the highest participation rate in 2024 while Cape Breton reported the lowest.

Employment rates were up overall for the province, based on increases in Halifax and Cape Breton. Employment rates were down in the North Shore, Annapolis Valley and Southern Nova Scotia regions.  Halifax had the highest employment rate in 2024 while Cape Breton had the lowest.

Measured as a share of total employment, Nova Scotia's employment is relatively more concentrated (compared with the national average) in wholesale/retail, health/social (including daycare), accommodation/food services and public administration.  Nova Scotia's employment is disproportionately low (compared to the national average) in manufacturing, transportation, finance/insurance/real estate and professional/technical services.

Compared against the provincial distribution of employment by industry, employment in Cape Breton is notably more concentrated in health care and social assistance (including daycare) as well as in education and wholesale/retail.  Compared with the provincial average, Cape Breton's employment in manufacturing, finance/insurance/real estate and professional/technical services is disproportionately low.  

Compared against the provincial distribution of employment by industry, employment in the North Shore economic region is notably more concentrated in health/social (including daycare), wholesale/retail, agriculture, construction and manufacturing.  Compared with the provincial average, the North Shore's employment in transportation, finance/insurance/real estate, professional/technical services, information/culture/recreation and public administration is disproportionately low.  

Compared against the provincial distribution of employment by industry, employment in the Annapolis Valley is notably more concentrated in agriculture, construction, manufacturing and health/social/daycare.  Compared with the provincial average, the Annapolis Valley's employment is disproportionately low in in forestry/fishing/mining, professional/technical services, accommodation/food services and public administration.  

Southern Nova Scotia's employment is notably more concentrated in forestry/fishing/mining and manufacturing.  Southern Nova Scotia's employment by industry is disproportionately low compared with the provincial averages for: construction, wholesale/retail, transportation, finance/insurance/real estate, professional/technical services, information/culture/recreation and public administration.

In Halifax, employment by industry was notably more concentrated (compared with the provincial average) in: finance/insurance/real estate, professional/technical services, transportation, information/culture/recreation and public administration.  Halifax's employment shares for forestry/fishing/mining, manufacturing and health/social/daycare were disproportionately low compared to the provincial averages. 

Provinces (2024 vs 2023, annual average)

Nova Scotia's labour force increase of 3.3% outpaced the national gain of 3.0%.  Labour force was up in all provinces with the fastest rise in Prince Edward Island and the slowest in Québec.  

Nova Scotia's employment gain of 3.2% was the second fastest among provinces (after Prince Edward Island).  Nationally, employment was up 1.9% with gains in all provinces. Québec also reported the slowest employment increase in 2024.

The national unemployment rate averaged 6.5% in 2024, up from 6.4% reported in 2023.  Unemployment rates were up for every province.  Québec, Manitoba, Saskatchewan and British Columbia all reported the lowest unemployment rates (5.3-5.4%).  Newfoundland and Labrador had the highest unemployment rate in 2024 (10.0%). 

Labour force participation rates were up in the Atlantic provinces as well as Saskatchewan from 2023 to 2024.  The national participation rate was 65.5%, down from 65.8% in 2023.  Nova Scotia's participation rate (61.8%) was third lowest among the provinces in 2024, following Newfoundland and Labrador and New Brunswick.  The highest participation rates were in Alberta and Saskatchewan.

Employment rates increased in just two provinces from 2023 to 2024: Nova Scotia (+0.2 percentage points to 57.8%) and Newfoundland and Labrador.  The national employment rate fell by 0.9 percentage points to 61.3% in 2024.  Alberta reported the highest employment rate in 2024; Newfoundland and Labrador reported the lowest.

Census Metropolitan Areas (2024, annual average)

Note: Statistics Canada has revised the list of Census Metropolitan Areas (CMAs) to align with those reported by the 2021 Census.  This includes some new CMAs: Fredericton, Drummondville, Red Deer, Kamloops, Chilliwack and Nanaimo. There were notable revisions to boundaries for the Halifax CMA, which now includes the East Hants Municipal District.  The CMA for Windsor was expanded to include Leamington while Ottawa/Gatineau's CMA was expanded to incorporate Arnprior and Carleton Place.

The Halifax and East Hants CMA's unemployment rate averaged 5.5% in 2024.  This below the national average and lower than in the rest of Nova Scotia (7.7%).  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.  

The Halifax and East Hants CMA's participation rate was 68.9% on average in 2024 while participation rates were 54.8% across the rest of the province.  Only Belleville and Newfoundland and Labrador outside St. John's reported lower participation rates than Nova Scotia outside of Halifax.

The Halifax and East Hants CMA reported an employment rate of 65.1% on average in 2024 while the employment rate was 50.6% outside the city. Areas of New Brunswick outside Fredericton, Saint John and Moncton reported an employment rate of 50.6% as well. Only Belleville and Newfoundland and Labrador outside St. John's reported lower employment rates than Nova Scotia outside of Halifax.  

Labour market outcomes by highest level of education completed

Labour force participation rates and employment rates rise for those with higher levels of education.  The participation rate of those with 8 or fewer years of schooling (aged 25-54) was only 51.7% while it was 92.5% for those with a university degree beyond the Bachelor's level.

Employment rates in 2024 ranged from a low of 44.8% for those aged 25-54 with 8 or fewer years of schooling up to a high of 87.7% for those with a university bachelor's degree.

Unemployment rates for Nova Scotians with the least amount of education were unavailable, but those with only some high school education reported a markedly higher unemployment rate in 2024 (12.6%) than those with university Bachelor's degrees (4.6%) or those with post secondary certificates/diplomas (4.5%).

Labour force participation by family structure

Presence of children influences labour force participation rates, but so does the presence of a spouse with employment.  Among women, the participation rate for those not in an economic family (ages 25-54) was 88.6%.  Participation rates for women with children were generally lower - particularly if the woman had a spouse or common-law partner that did not have a job.  The exception was among women with children aged 6-17 and a spouse/partner who was employed.

Reasons for labour market outcomes

As part of the Labour Force Survey, Statistics Canada asks respondents about their reasons for conditions such as part-time employment, losing a job or not participating at all in the labour force.  

In 2024, there was an average of 88,700 part-time workers, fairly evenly distributed across three age categories: ages 15-24, ages 25-54 and ages 55+.  For younger workers, going to school was by far the most common reason for working part time.  For older workers, personal preference was the main reason for part time work.  For those aged 25-54, there were numerous reasons for part-time work, including personal preference, caring for children, business conditions, going to school and other voluntary reasons.

Among those who either left or lost a job in 2024 (68,700 persons), the most common reason for losing a job was permanent layoff.  However, for younger workers, going to school was the most common reason for leaving a job in 2024 while for older workers, retirement was the most common reason for leaving a job.  

There were 344,500 persons in Nova Scotia who did not participate in the labour force in 2024.  Of these, the vast majority (330,900) did not participate in the labour force because they did not want work (for reasons such as retirement) or were not available for work.  Of the 13,600 persons that were not in the labour force but wanted work, illness was the most common reason for not participating.  School, personal/family responsibility and waiting for recall were the next most commonly-specified reasons for not participating in the labour force, despite wanting work.  

Source: Statistics Canada.  Table 14-10-0037-01  Actual hours worked by industry, annualTable 14-10-0064-01  Employee wages by industry, annualTable 14-10-0327-01  Labour force characteristics by sex and detailed age group, annual; Table 14-10-0385-01  Labour force characteristics, annualTable 14-10-0393-01  Labour force characteristics, annualTable 14-10-0023-01  Labour force characteristics by industry, annual (x 1,000)Table 14-10-0027-01  Employment by class of worker, annual (x 1,000)Table 14-10-0396-01  Labour force characteristics by family structure, annual, unadjusted for seasonalityTable 14-10-0029-01  Part-time employment by reason, annual (x 1,000)Table 14-10-0126-01  Reason for leaving job during previous year, annual (x 1,000)Table 14-10-0128-01  Reason for not looking for work, annual (x 1,000)Table 14-10-0020-01  Unemployment rate, participation rate and employment rate by educational attainment, annualTable 14-10-0392-01  Employment by industry, annual (x 1,000)



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