October sees better employment numbers

October sees better employment numbers

October 2023 employment numbers saw the Brantford area’s jobless rate fall, reversing some recent job losses.

The Brantford-Brant unemployment rate dropped to 4.1%, down from September’s 4.7%, according to seasonally adjusted estimates from Statistics Canada’s monthly labour force survey.

By comparison, both the national and provincial unemployment rates grew. Canada’s increased to 5.7% despite employment growing by a modest 18,000, while Ontario saw its rate climb to 6.2%. Canada’s job growth has been unable to keep up with population growth.

Brantford gained an estimated 900 jobs in October, bouncing back from weaker numbers seen for the previous two months.

The local job market also maintained its bragging rights of having the lowest unemployment rate compared to nearby communities. Hamilton was the next lowest at 5.2%.

Brantford and Hamilton job numbers moved in the same direction last month. Both areas grew their labour forces, increased employment – particularly in service industries such as transportation, warehousing and education – and saw fewer people out of work.

“There’s a lot of similarity right now between the labour markets in Brantford and Hamilton,” said Danette Dalton, the Workforc Planning Board’s executive director. “There are thousands of people who commute daily between the communities in each direction.”

There were about 1,900 job postings in October on Grand Erie Jobs, the community online job board operated by the Workforce Planning Board. That was down 19% from September and 3% fewer companies posted positions.

“There has been a decline in the number of online job postings over the last several months, but that isn’t unusual,” Dalton said. “There’s a seasonal nature to the labour market and hiring can slow in the Fall months and then pick up in January. The same was true last year.”

Visit Statistics Canada’s website to read their news release on the October 2023 employment numbers for Canada and Ontario.

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