Highlights
- According to data published by Statistics Canada, the Québec City census metropolitan area (CMA) had a total of 425,800 jobs in February 2015, or 200 more than the previous month.
- Since the rise in employment was matched by the increase in the workforce, unemployment held steady at 5.6% for the second month in a row.
- In the province of Québec, the labour market posted an increase of 16,800 jobs compared with January as unemployment held steady at 7.4%.
Commentary
Québec City's labour market in February was virtually the same as in January. The metro region was home to 425,800 jobs, up 200 from January. It should be noted that in January, the region finally put an end to five straight months of job losses. The unemployment rate remained unchanged at 5.6% in February (the lowest unemployment rate in the province) as the workforce and the employment rate both grew by 0.1%.
Based on various trends emerging from February's performance, the labour market remained stable in the manufacturing industry, while a slight gain in the services sector offset the drop in construction. The announcement of new investment projects and related preparations, combined with the recent award of several contracts, should gradually stimulate job creation in all regional economic sectors over the next few months. In addition, the job market in February turned favourable for 25-to-54 year-olds, as well as for those in the 55+ category.
Although modest, February's performance will help to gradually turn the page on last fall's results. The low unemployment rate continues to underscore the pressing need for qualified and specialized workers.
Louis Gagnon
Senior Economist
Québec International
Rocio Martire-Mulhall
Economist
Québec International
