Thursday, June 11, 2015

Ontario and Alberta May 2015 Employment Numbers

Ontario had a massive month over month jobs gain in May 2015, with 43,900 more jobs. Full-time employment was up 31,100 while part-time jobs were up 12,700. From January, employment went up 45,400 so the first four months were pretty pathetic in terms of job growth (working age population went up by 35,800 in that period). That will probably show up in the GDP numbers for Ontario, with the first quarter coming in weak, with the second stronger from May onwards. It will be interesting to see whether May is an anomaly or the start of a stronger trend for job growth in Ontario. Potentially after a weak start for the US economy in 2015, strength there could be seeping into Ontario.

For Alberta, employment went down in May by 6,400. Full time actually went up by 20,200 while
part time was down 26,600. So that's somewhat mixed, although certainly the effect of the crash of oil prices is reducing jobs. More concerning is that jobs are down 6,400 from January indicating a very flat employment situation. However considering that oil is down so much, a flat employment situation is actually pretty good. It will be interesting to see what happens going forward through the summer.

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