Highlights
- According to Statistics Canada’s Labour Force Survey (LFS), 458,600 people were employed in the Québec City census metropolitan area (CMA) in October.
- The number of people employed in the region dropped by 2,200 from September to October.
- The unemployment rate remained at 3% in October, still the lowest rate in Canada.
- The labour force represented 472,700 people in the region, 2,400 fewer than the previous month.
- In the province of Quebec, data revealed that the number of jobs increased by 7,900 compared to September 2019, while the unemployment rate remained unchanged at 4.8%.
Commentary
According to Statistics Canada’s Labour Force Survey (LFS), there were 458,600 people employed in the Québec City CMA in October. On a monthly basis, the number of people employed in the region decreased by 2,200. The labour force represented 472,700 people in October 2019, 2,400 fewer than the previous month. The number of unemployed decreased slightly, while the unemployment rate remained stable at 3%, still the lowest rate in Canada. This situation is explained by the decline in the labour force. In this regard, the region’s participation rate decreased slightly from 69% in September to 68.7% in October but remained among the highest in the province of Quebec. Moreover, the trend shows that the highest decrease in terms of participation comes from the 15 to 24 years age group, unlike the people aged 55 and over, who showed the highest increase in participation. A similar situation was observed in the employment rate, down from 67% to 66.6%.
The manufacturing sector registered an increase in employment in October, continuing with the momentum from the three previous months. However, this sector has slowed down compared to the same period last year. On the other hand, the services sector recorded a decrease for the fourth month in a row. Nonetheless, we must not forget the excellent results that this sector has cumulated over the past year, as these account for a significant part of job creation in the Québec City CMA for that period. Compared to October 2018, the labour market in Québec City registered a net gain of 14,000 jobs, an impressive performance considering the labour shortages in the region and the global economic context. Note that the unemployment rate contracted from October 2018 to October 2019, while the number of vacant positions kept on growing. In reaction to hiring challenges, the upward trend in wages seems to have supported the consumption sector and contributed to the region’s strong labour market. This is a favourable position in a context where export is fluctuating due to global market negotiations.
Émile Émond
Economist
Québec International
