Niagara unemployment skewing higher than national-provincial average
Published November 7, 2022 at 11:59 am
For the second straight month, the unemployment rate in Niagara Region rose and is skewing higher than the national and provincial rate.
According to figures just released with Statistics Canada, Niagara jumped from 6.1 per cent in September to 6.4 per cent unemployment in October.
At the moment, the provincial rate of unemployment is 5.8 per cent while the national rate is set at 5.3 per cent.
While the size of the Niagara Region labour force rose to 226,200 in October as opposed to 223,600 in September, there were still 800 more people added to the umemployment ranks.
The reason for the discrepancy is the downward adjustment to the seasonal workers in the tourism-and-agriculture-focused economy in Niagara.
StasCan says national employment rose by 108,000 (+0.6 per cent) in October, recouping losses observed from May to September.
Employment rose in several industries, led by manufacturing, construction, and accommodation and food services but at the same time, fell in wholesale and retail trade, as well as in natural resources.
The number of private-sector employees rose for the first time since March 2022 while employment was virtually unchanged among employees in the public sector and among self-employed workers.insauga's Editorial Standards and Policies advertising