Sault Ste. Marie’s unemployment rate in September was 9.3%, up from 8.1% in August.
Sault Ste. Marie’s overall unemployment rate is higher than both the Provincial and National rates
The unemployment rate for those 25 to 54 years of age is 7.7%, which is more in line with the Provincial and National rates
The unemployment rate for those 15 to 24 years of age is 14.3%, which is a indication of younger workers have challenges entering the workforce.
The unemployment rate for those 55 years and over is 11.6%, which could be an indication challenges older workers face when trying to re-enter the workforce.
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 at previous lows which marked the beginning of a climb in the rates. Since we have a high number of job postings, we would expect the Employment and Participation Rates to increase in the coming months.
Overall employment fell to 32,100 jobs in August.
Employment in the Goods-Producing sector fell slightly.
Employment in Services-Producing held steady. Gains in Retail and Education employment were countered by a significant drop in Accommodation and Food Services along with a slight drop in Healthcare employment.
Comparing current employment levels to September 2020 and September 2019, most sectors have rebounded from lows in 2020 but overall employment is 14% lower than September 2019 (pre-COVID)
Not surprisingly, Retail, Recreation and Accommodation and Food Services are among the sectors with the largest drop in employment.
Only Job postings continue to be strong for Sault Ste. Marie
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.