November 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 figures are customized for Sault Ste. Marie and originate from a representative sample that covers the working-age population, including individuals aged 15 years and above. The insights are derived from the data provided for October 2023, November 2023, and the corresponding month in the preceding fiscal year, November 2022.

The population of Sault Ste. Marie, Ontario, has shown a modest but consistent increase from 66.6 thousand in November 2022 to 66.9 thousand in November 2023.

Labour Force Highlights:

• The labour force experienced a slight decrease from 36.9 thousand in November 2022 to 36.4 thousand in October 2023, it rebounded to 37.8 thousand in November 2023.
• Employment declined from 35.4 thousand in November 2022 to 34.2 thousand in October 2023 but increased to 35.8 thousand in November 2023.
• Full-time employment rose from 28.3 thousand in October 2023 to 28.9 thousand in November 2023, , maintaining comparability with the corresponding period from the previous year of 29.1 thousand.
• Part-time employment increased 5.9 thousand in October 2023 to 6.9 thousand in November 2023. This figure remains comparable to the corresponding period last year.
• The unemployment rate in Sault Ste. Marie decreased from 6% in October 2023 to 5.3% in November 2023. However, it remains slightly higher than the rate observed in November 2022, which was at 4.1%.
• The participation rate has increased 2 percentage points from 54.5% October 2023 to 56.5% November 2023. This suggests a rise in the proportion of the working-age population actively seeking employment or engaged in the workforce.
• The employment rate has seen a notable rise of 2.3 percentage points, climbing from 51.2% in October 2023 to 53.5% in November 2023. When compared to November of the previous year, the rate remains relatively consistent and comparable.

Sector highlights ( x 1,000):

Across all industries, there was a year-over-year increase from 35.4 (x 1,000) in November 2022 to 35.8 in November 2023, indicating positive growth over the period.

• The goods-producing sector showed growth, rising from 7.6 in November 2022 to 8.1 in November 2023, reflecting an upward trend in production activities.
• Notable growth in the manufacturing sector from 3.5 to 4.8 employed.
• The services-producing sector remained relatively stable, experiencing a slight decrease from 27.8 in November 2022 to 27.7 in November 2023.
• The health care and social assistance sector witnessed a decline, dropping from 8.5 in November 2022 to 7.1 in November 2023 on a year-over-year basis.
• Public administration exhibited significant growth, increasing from 2.7 in November 2022 to 4.3 in November 2023, indicating an expansion uptick in employment.

Job Postings Trends- Algoma

• The highest number was observed in March (2,327), followed by a gradual decline in the subsequent months.
• November had the lowest number of active job posts (1,668), indicating potential seasonal trends or economic factors influencing hiring activities.
• The number of new job posts each month varies, showcasing the dynamic nature of the job market.
• June witnessed the highest number of new job posts (1,224), while October had the lowest (920).
• The count of companies hiring fluctuates but maintains a general downward trend from January to November.
• March recorded the highest number of companies hiring (815), while November had the lowest (604).

The data suggests potential seasonal patterns in hiring activities. The first half of the year (January to June) generally sees more active and new job posts than the second half (July to November). This may align with standard hiring practices, where organizations allocate budgets and resources for recruitment earlier in the fiscal year.