August 2023 Labour Force Survey Highlights – Sault Ste. Marie

Home Labour Force Survey DataAugust 2023 Labour Force Survey Highlights – Sault Ste. Marie

The Labour Force Survey (LFS) is pivotal in providing essential insights into employment and unemployment, serving as a critical benchmark for assessing the performance of the Canadian economy.

These monthly Labour Force Survey estimates are tailored to Sault Ste. Marie and stem from a representative sample encompassing the working-age population, comprising individuals aged 15 years and older.

In August 2023, a modest dip was observed in the labour force, with 1,000 fewer individuals compared to July 2023. This reduction translates to a year-over-year decrease of 5,100, although it still slightly surpasses the pre-pandemic levels noted in 2021.

The unemployment rate, while remaining relatively low and lower than provincial and national rates, has exceeded the confidentiality sample threshold of 1,500 individuals in the previous two months (June and July 2023). The current unemployment rate stands at 4.4% (approximately 1,700 individuals), mirroring the rate recorded in the same month of 2022.

The participation rate has declined notably, decreasing by 7.8 percentage points compared to the same period in 2022. Nevertheless, it remains slightly higher than pre-pandemic levels.

Likewise, the employment rate has seen a 7.4 percentage point drop compared to the same period in 2022. However, it remains relatively stable compared to figures recorded before the pandemic.

In Algoma, job openings have dwindled since March 2023, while the number of employers actively seeking to hire has remained steadfast. This trend suggests a potential cooling in labour market demand. As of August 2023, there were a total of 1,536 active job listings, representing a decrease from the 2,376 listings reported during the same period in the previous year.

🗓 August 2023 Job Posting Data for Algoma:

🛠 Emerging Employment Sectors :
– The Utilities sector has experienced a substantial growth of 12%.

📈 Top In-Demand Occupations (4-digit level):
1. Transport Truck Drivers
2. Janitors, Caretakers, and Building Superintendents
3. Store Shelf Stockers, Clerks, and Order Fillers
4. Food Service Supervisors
5. Financial Sales Representatives

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