Although the Unemployment Rate increased slightly from January, we saw a 7% increase in overall employment (12% since the beginning of the year). And all sectors had an increase in employment from January to February.
Comparing February 2022 to February 2020 (pre-COVID), overall employment is up by 4%.
Highlights:
- Sault Ste. Marie’s unemployment rate in February was 6.7%, up slightly from 6.4% in January.
- Sault Ste. Marie’s unemployment rate in February 2022 was 6.7% (Canada 5.5%, Ontario 5.5%)
- This represents an slight increase from 6.4% in January 2022, but lower than the recent high of 9.3% in Sept 2021.
- Previous to COVID restrictions in March 2020, the unemployment rate was 5.1% and then climbed significantly.
- The national and provincial rates also spiked due to COVID restrictions, fell steadily in 2021 and have risen in recent months
- Sault Ste. Marie’s Participation and Employment Rates both climbed in February 2022.
- Both the Participation and Employment Rates have begun to climb in recent months. Since we have a high number of job postings (see below), we would hope to see the Employment and Participation Rates continue to increase in the coming months.
- Higher Participation and Employment rates should help employers with challenges filling open positions.
- Overall employment rose to 37,600 jobs in January.
- Employment in all Sectors increased in February, with significant gains in the Retail, Accommodation/Food Services and Recreation sectors.
- Comparing February 2020 to February 2022, Sault Ste. Marie is actually up 4% in overall employment – higher than the pre-pandemic level of employment.
- Job postings continue to be strong for Sault Ste. Marie.
- The number of Job postings in February 2022 are 3x’s the February 2021 postings.
- We continue to see strong demand in Healthcare, Home Support Workers, Retail, Drivers and Restaurants.