Highlights – November 2024
Data visualization
Employment evolution over one year
Sources: Statistics Canada, Table 14-10-0380-01, and Québec International.
Overview of employment in major Canadian CMAs
Analysis
Relatively stable employment
Based on data from Statistics Canada’s Labour Force Survey (LFS), the Québec City CMA’s labour market shows sharp variations in November 2024. The labour force grew slightly, from 472,300 to 472,600 people (+0.3%), while employment registered a small drop, from 453,300 to 452,400 people (-0.2%). Although modest, this decrease is consistent with the downturn observed in the past few months.
Increased unemployment rate
In November 2024, the region’s unemployment rate increased to 4.5%, a level that had not been observed since June 2021. However, this rate is comparable to pre-pandemic levels. The number of unemployed people grew significantly, going from 19,000 to 21,200 (+11.6%). Looking at other indicators, note that the participation rate remained virtually unchanged, growing from 65.9% to 66.0%, while the employment rate dropped from 63.3% to 63.1%.
The Québec City CMA among the worst performances in the country
As employment decreased in the Québec City CMA, Canada’s labour market showed signs of deceleration in the last few months, although there was a slight increase in November. In the province of Quebec, employment grew by 0.4%, a higher increase than in Canada as a whole (0.2%).
The surge in unemployment and drop in employment in the region are consistent with the slowdown observed in recent months. The cumulative loss of 12,500 jobs over the past 12 months highlights the extent of this situation. The employment and participation rates remained stable compared to the previous month. However, compared to November 2023 data, these two indicators dropped by 1.9 percentage points (pp) and 2.9 pp respectively, reaching 66% and 63.1% in November 2024.
El Hadji Nimaga
Économist
Québec International
