January 16, 2025
SUMMARY
Employment and labour force cooled in December 2024, and unemployment rose to 6.0% from the 3.9% in November. While the industry has winded down from the record highs of 2023, the labour market remains strong overall. In particular, females aged 25-54 and youth aged 15-24 actually increased year-over-year (y/y) from December 2023.
EMPLOYMENT
Employment and labour force were both down in December, -3.1% y/y and -2.9% y/y respectively. This continued the trend of 2024’s cooler construction labour market relative to 2023. As is typical in the winter, the unemployment rate hopped up from 3.9% in November to 6%. This unemployment rate was higher than the last several Decembers, excluding 2020. Overall, however, 2024 was still a strong year, with still near record high average employment and labour force, and a relatively low unemployment rate.
Delving into the details, female employment was actually up 3.9% y/y and labour force was up 6.0% y/y. For females aged 24-55, employment was up 12.2% y/y, and labour force was up 14.1%. In contrast, females aged 55 and over saw a decline of -26.6% y/y.
Looking at age groups, those aged 15-24 recorded an employment gain of about 21.7% y/y and labour force increase of 24% y/y, whereas those aged 55 and over saw a decline of -13.1% and -12.5% respectively.
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FOR MORE INFORMATION, CONTACT:
Ali Ahmad
Research Analyst
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 222
aahmad@iciconstruction.com
