Overall, all indicators in the monthly Labour Force Survey release of September have been on a downward trend as predicted in July’s Labour Force Analysis.
“There is the possibility of job losses coming associated with a slowdown in the economy (recession). If increases in interest rates and prices cause a slowdown in consumer spending, then we would expect to see the first signs of impact on employment in the retail, accommodation and food services sectors – the same sectors most impacted by COVID restrictions”.
Overview:
Unemployment Rate
- Sault Ste. Marie’s unemployment rate in September 2022 was 3.7% (Canada 5.2%, Ontario 5.8%).
- September 2022 is the lowest recorded unemployment rate over the last 4 years for Sault Ste. Marie (December 2018, 3.3%).
Participation Rate
- Sault Ste. Marie’s participation rate in September 2022 was 61.4% (Canada 64.7%, Ontario 64.6%).
- The participation rate dropped 3.9 percentage points from a high of 65.2% in August 2022.
Employment Rate
- Sault Ste. Marie’s employment rate in September 2022 was 59.2% (Canada 61.3%, Ontario 60.8%).
- The employment rate dropped 3.1 percentage points from a high of 62.3% in August 2022.
Employment Levels/Industries
- Sault Ste. Marie’s employment was 39,400 in September 2022.
- This is a decrease of 2,100 (-5%) from August 2022 but an overall increase of 7,300 (+23%) from September 2021.
- Employment in the goods-producing sector decreased from the previous month to 8,400 (-10%) due to the construction and manufacturing sectors.
- Employment in the services-producing sector decreased slightly to 31,000 (-4%) mainly due to the accommodation and food services sector.
Job Postings
- There was a total of 1,898 online job postings in Sault Ste. Marie and 2614 in Algoma for the month of September 2022.
- Overall, the total number of job postings has been decreasing, yet still higher than the previous year’s postings.
You can find the whole summary in the following pdf.
September 2022 Labour Force Survey Highlights.