Highlights
- The Québec City CMA registered 453,900 jobs in August, a loss of 2,900 compared to the previous month.
- A diminution of around 3,700 people was observed in the active population in Québec City. For a third consecutive month, the pool of workers and the number of jobs both decreased.
- The region regains the first rank for the lowest unemployment rate in Canada, going down from 3.9% in July to 3.7% in August.
- In the province of Quebec, 2,300 jobs were lost this month, and the unemployment rate remained stable at 5.6%.
Commentary
With the summer coming to an end, the Québec City CMA’s pool of workers decreased for a third month in a row. In August, almost 3,700 people left the active population. This affected employment in the region, which counted 2,900 fewer jobs than in the previous month. This situation is similar to the one experienced by the main CMAs in the Eastern provinces. For the area, the unemployment rate dropped down to 3.7% due to a higher downturn in the active population than in the employment sector. This is the lowest unemployment rate recorded among all Canadian CMAs. However, let’s keep in mind that the annual track records regarding the active population and employment remain positive.
Ever dependent on the variations in the active population, the region’s labour market remains in somewhat of a summer lull. Still, many indicators hint at opportunities that could release the pressure on workers’ availability. Indeed, the employment rate in the CMA went down from 67.8% in May to 66.4% in August. This drop suggests that an unexploited pool of workers is potentially accessible. Moreover, in August, full-time employment grew, in particular thanks to workers under 25 who seem to be increasingly present in the labour market.
Émile Émond
Economist
Québec International
