Sault Ste. Marie’s unemployment rate in September was 7.5%, down from 9.3% in September.
Sault Ste. Marie’s overall unemployment rate is slightly higher than both the Provincial and National rates
The unemployment rate for those 25 to 54 years of age is 6.3%, which is more in line with the Provincial and National rates
The unemployment rate for those 15 to 24 years of age is 12.5%, which is an indication of younger workers have challenges entering the workforce.
The unemployment rate for those 55 years and over is 6.3%, which is significantly lower than recent months.
Sault Ste. Marie’s Participation and Employment Rates continue to be considerably lower (over 10%) than Provincial and National rates.
Since both the Participation and Employment Rates are based on the overall population (aged 15 and above), the lower rates are mainly attributable to the fact that Sault Ste. Marie has a relatively older population and more people out of the workforce (retired).
Comparing the rates by age group shows that the Participation and Employment rates for the core working aged population (25 to 54) are more in line with Provincial and National rates.
Both the Participation and Employment Rates are at previous lows which marked the beginning of a climb in the rates. Since we have a high number of job postings (see below), we would hope to see the Employment and Participation Rates to increase in the coming months. If they don’t, we will continue to have a tight labour market in which some employers will have challenges filling open positions.
Overall employment remained at 32,200 jobs in October.
Employment in the Goods-Producing sector increased slightly. Employment remained consistent in the Construction and Manufacturing Sectors.
Employment in Services-Producing held steady. Gains in Accommodation/Food Services and Education were countered by a continued drop in Healthcare employment.
Comparing current employment levels to October 2020 and October 2019, overall employment is 14% lower than October 2019 (pre-COVID)
Not surprisingly, Retail and Culture/Recreation are among the sectors with the largest drop in employment.
Job postings continue to be strong for Sault Ste. Marie
The number of Job postings in October 2021 are almost double the October 2020 postings.
An increase in Retail related job postings could be a sign of higher levels of employment in the Retail sector to come.
Similarly, there was an increase in demand for Cooks, Food Counter and Kitchen Helpers.