Highlights – March 2024
Data visualization
Monthly evolution of employment in the Québec City
Overview of employement in major Canadian regions
Analysis
Employment grew slightly in Québec City
Data from Statistics Canada’s Labour Force Survey (LFS) shows a first increase in employment since December in March 2024 in the Québec City region. Labour market indicators show a net gain of 1,100 jobs (+0.2%), while the labour force increased slightly, with 2,200 (+0.5%) additional people in the labour force compared to the previous month.
The employment rate registered a 0.1 percentage point (pp) increase to reach 65.9%. Conversely, the employment rate for the province of Quebec registered a drop of 0.1 pp, decreasing for the fourth month in a row, settling at 61.5%. Similarly, Canada’s employment rate dropped slightly (-0.1%), also reaching 61.5%. The decrease in the employment rates of the province of Quebec and Canada is explained by a higher increase in the population than in employment.
Unemployment rate above 3%
The unemployment rate remains relatively low in the Québec City CMA, increasing slightly to 3.1% in March 2024. Therefore, the region maintains its second rank among Canadian CMAs in terms of the lowest unemployment rate, ahead of Guelph (3.8%) and behind Saguenay (2.2%). Note, however, that for the last six months, Québec City has maintained the lowest unemployment rate among the 20 largest CMAs. Compared to March of last year, the unemployment rate increased in the region, going from 1.8% to 3.1%, the highest unemployment rate for March since 2021.
Positive year-over-year results in employment in March
With the increase in employment in March (+0.2%), the cumulative growth registered in the past 12 months reached 9,300 jobs (+2%) in the Québec City region, for a total of 466,300 jobs. During this period, the business services industry and the accommodation and food services industry registered significant growth, while a decline was observed in the industries of finance and insurance as well as information, culture and leisure. Overall, the region’s labour market remained strong in March.
El hadji Nimaga
Economist
Québec International
