November 10, 2022
Summary: Employment numbers dropped for the third month in a row since August, and labour force participation also decreased for the past two months. The unemployment rate, however, remains low.
Labour
Employment decreased from 599.6 thousand in September to 592.1 thousand in October. Similarly, the labour force also shrank from 616.5 thousand to 608.4 thousand. As labour force participation fell more than employment, the unemployment rate decreased marginally, from 2.8% to 2.7%.
When putting these numbers into context, employment and labour force size are still higher than any point before June 2022. Likewise, the unemployment rate is relatively low, especially when compared to the overall unemployment rate in Ontario, which sits at 5.2%.
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FOR MORE INFORMATION, CONTACT:
Katherine Jacobs
Director of Research
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 222
F 416.620.5310
kjacobs@iciconstruction.com
