Labour Market Bulletin - January 2010
Labour Force Trends: Employment reaches new all-time high for the third month in a row.
- The labour force was unchanged but employment increased to reach a new all time-high for the third consecutive month. The unemployment rate declined by almost a percentage point compared to the previous month.
- In the past year, labour market indicators showed improvements on the Island.
- Both the labour force (+2,100) and employment (+3,400) experienced significant increases, and the unemployment rate dropped by 2.0 percentage points to its lowest levels over the past twelve months.
| Month/Month Change |
Year/Year Change |
||||||
|---|---|---|---|---|---|---|---|
| (Seasonally Adjusted) | Jan 2010 |
Dec 2009 |
Jan 2009 |
Absolute | % | Absolute | % |
| Population 15+ | 116,400 | 116,400 | 115,300 | 0 | 0 | 1,100 | 1.0 |
| Labour Force | 79,600 | 79,600 | 77,500 | 0 | 0 | 2,100 | 2.7 |
| Employment | 71,100 | 71,000 | 68,300 | 600 | 0.1 | 3,400 | 5.0 |
| - Employment full-time | 57,900 | 57,700 | 57,400 | 0 | 0 | 500 | 0.9 |
| - Employment part-time | 13,800 | 13,200 | 10,900 | 600 | 0.8 | 2,900 | 26.6 |
| Unemployment | 7,900 | 8,500 | 9,200 | -600 | -7.1 | -1,300 | -14.1 |
| Unemployment Rate | 9.9 | 10.7 | 11.9 | -0.8 | -2.0 | ||
| Participation Rate | 68.4 | 68.4 | 67.2 | 0 | 1.2 | ||
| Employment Rate | 61.6 | 61.1 | 59.2 | 0.5 | 2.4 | ||
- Since last year, full-time employment edged up and there was a significant increase in part-time employment. The services producing sector accounted for almost all of the net employment increase in the province, over this period.
- The PEI participation rate continues to rank among the highest in the country. In January 2010, the participation rate was the highest in the Atlantic region and the fourth highest in the country.
- In the past year, the youth labour force increased (by 600), while employment increased by 800, as a result the unemployment rate decreased by 3.0 percentage points to 14.8%
Unadjusted Labour Force Trends
The following graph looks at actual (unadjusted) employment and unemployment trends over the past two years.
- Approximately 66,700 were employed in January 2010, about 1,500 more than the same period in 2008.
- The unemployment rate was 12.8%, about 1.2 percentage points lower than it was in January 2008.
Employment by Industry: Employment gains in services-producing industries.
There were 18,000 persons employed in the goods-producing sector in January; up by only 200 compared to last year
.- There were year-over-year total employment losses in forestry, fishing, mining, oil and gas; and, manufacturing, but this was offset by gains in all other industries.
- Employment levels were up 600 and 700 in construction and agriculture respectively.
The level of employment in the services-producing sector was 53,700 in January, 2010, up by 3,400 compared to the previous year.
- There were major job losses in transportation and warehousing (-800); and information culture and recreation industries (-800).
- Employment gains in trade; business, building and other support services; educational services; health care; accommodation and food services; and, other services industries, more than offset the employment losses in this sector.
| Month/Month Change |
Year/Year Change |
||||||
|---|---|---|---|---|---|---|---|
| Sector (Seasonally Adjusted) |
Jan 2010 | Dec 2009 | Jan 2009 | Absolute | % | Absolute | % |
| Total Employed | 71,700 | 71,200 | 68,100 | 500 | 1.0 | 3,600 | 5.3 |
| Goods-Producing Sector | 18,000 | 18,100 | 17,800 | -100 | -1.0 | 200 | 1.1 |
| Agriculture | 3,900 | 4,000 | 3,200 | -100 | -3.0 | 700 | 21.9 |
| Forestry, fishing, mining, oil and gas | 2,600 | 2,500 | 3,100 | 100 | 4.0 | -500 | -16.1 |
| Utilities | 300 | 500 | 200 | -200 | -40.0 | 100 | 50.0 |
| Construction | 5,900 | 5,900 | 5,300 | 0 | 0 | 600 | 11.3 |
| Manufacturing | 5,300 | 5,200 | 5,900 | 100 | 2.0 | -600 | -10.2 |
| Services-Producing Sector | 53,700 | 53,000 | 50,300 | 700 | 1.0 | 3,400 | 6.8 |
| Trade | 11,500 | 11,200 | 9,200 | 300 | 3.0 | 2,300 | 25.0 |
| Transportation & warehousing | 1,900 | 1,900 | 2,700 | 0 | 0 | -800 | -29.6 |
| Finance, insurance, real estate and leasing | 2,300 | 2,600 | 2,400 | -300 | -12.0 | -100 | -4.2 |
| Professional, scientific and technical services | 2,300 | 2,100 | 2,300 | 200 | 10 | 0 | 0 |
| Business, building & other support services | 2,700 | 2,900 | 2,500 | -200 | -7.0 | 200 | 8.0 |
| Educational services | 5,700 | 5,600 | 4,800 | 100 | -2.0 | 900 | 18.8 |
| Health care & social assistance | 8,700 | 8,400 | 7,700 | 300 | 4.0 | 100 | 13.0 |
| Information, culture and recreation | 2,200 | 2,400 | 3,000 | -200 | -8.0 | -800 | -26.7 |
| Accommodation and food services | 5,400 | 5,000 | 5,000 | 400 | 8.0 | 400 | 8.0 |
| Other Services | 3,300 | 3,300 | 2,800 | 0 | 0 | 500 | 17.9 |
| Public Administration | 7,600 | 7,600 | 7,800 | 0 | 0 | -200 | -2.6 |
In the News: January 2010
The provincial and federal governments are investing a total of $9.9 million for two new projects to help farmers reduce energy costs and generate new income opportunities through renewable fuels. The federal investment under the AgriFlexibility fund, part of Canada's Economic Action Plan, totals $5.9 million for two new projects (Renewable Energy Initiative and the BioEconomy Crop Initiative). The province is investing $2.8 million in the Renewable Energy Initiative and $1.2 million in the BioEconomy Crop Initiative.
Source: Provincial Press Release
The Atlantic Innovation Fund announced research grants worth $12.3 to seven PEI based projects.
Source: CBC News
The province has issued its first round of road and bridge construction tenders for 2010. The province plans to spend almost $56 million on roads and bridges during the upcoming construction season.
Source: Provincial Press Release
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