Already-low jobless rate falls again
The local unemployment rate fell to 3.2 per cent in October, setting a new low for Brantford and Brant County this century.
That’s down from September’s record low of 3.6 per cent.
And the October rate is full three percentage points below where the rate stood in the same month last year at 6.2 per cent.
The rate has been steadily declining in the past year, dropping up to a half a percentage point per month.
Statistics Canada said the country’s October unemployment rate held steady at 5.5 per cent, with an estimated 1,800 net jobs lost over the previous month.
According to the Workforce Planning Board of Grand Erie, which monitors labour statistics, the October rate puts Brantford well below its large metropolitan neighbours.
Hamilton’s rate in October was 4.8 per cent, while the Kitchener-cambridge-waterloo area, St. Catharines-niagara and Guelph all had rates equal to or higher than the Ontario average of 5.4 per cent. London’s October rate was over 6 per cent.
The planning board noted there are a high number of adults who are not counted in the labour force statistics. Since July, Statistics Canada estimated 4,000 people are either not working or not looking for work.
The board noted that many area employers are looking for workers, ranging across all industries and skills.
The planning board is one of 26 Ontario non-profit organizations that research and monitor labour trends in their markets.
The local jobless rate fell to 3.2 per cent in October, continuing a downward trend.