Newfoundland and Labrador, May 2024 - Job market snapshot

Get a snapshot of key facts about the state of Newfoundland and Labrador's labour market in the past month.

 

Employment in Newfoundland and Labrador decreased by 2,100 jobs (-0.9%) over the last month. The decline in employment this month is entirely due to loss of part-time employment. A decrease in employment and a larger labour force this month has led to a higher unemployment rate, 9.9% compared to 9.1% last month.

Newfoundland and Labrador's job market by the numbers

Working population

242,000

Down -0.9% since April

Unemployment rate

9.9%

Up 0.8 pts since April

Source: Statistics Canada - Table 14-10-0287-01 - Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months

Industries in focus

Manufacturing

Number of jobs increased 26.1%

April8,800

May11,100

In May, employment grew by a sharp 2,300 jobs (+26.1%) in the manufacturing industry compared to the previous month. The industry's job vacancy rate in Q4 2023 was 1.0%, 0.1p.p. lower than the previous quarter.

Accommodation and food services

Number of jobs decreased -13.2%

April15,200

May13,200

Employment in the accommodation and food services industry declined by a steep 2,000 jobs (-13.2%) over the last month. The industry's job vacancy rate in Q4 2023 was 4.5%, 1.5p.p. lower than the previous quarter.

Forestry, fishing, mining, quarrying, oil and gas

Number of jobs decreased -4.6%

April17,300

May16,500

Employment in the forestry, fishing, mining, quarrying, oil and gas industry has fallen by a moderate 800 jobs (-4.6%) over the last month.

Source: Statistics Canada - Table 14-10-0355-02 - Employment by industry, monthly, seasonally adjusted (x 1,000)

Unemployment rate by region

Avalon Peninsula
8.8%
South Coast–Burin Peninsula and Notre Dame-Central-Bonavista Bay
15.7%
West Coast–Northern Peninsula–Labrador
10.6%

The unemployment rate was lowest in Avalon Peninsula and highest in South Coast–Burin Peninsula and Notre Dame-Central-Bonavista Bay.

Source: Statistics Canada - Table 14-10-0387-01 - Labour force characteristics, three-month moving average, unadjusted for seasonality, last 5 months

A closer look at some regions

Avalon Peninsula

140,600 people employed

Up 3.3% since May 2023

The number of jobs in Avalon Peninsula grew by a sharp 4,500 (+3.3%) over the last 12 months. New job growth this year is entirely due to new full-time employment. The labour force (those working or looking for work) increased by a steep 7,500 (+5.1%) compared to a year ago. The region's unemployment rate grew to 8.8% in May from 7.2% the same month the year prior.

South Coast–Burin Peninsula and Notre Dame-Central-Bonavista Bay

53,200 people employed

Up 6.6% since May 2023

The number of jobs in South Coast-Burin Peninsula and Notre Dame-Central Bonavista Bay rose by a sharp 3,300 (+6.6%) over the last 12 months. New job growth this year is entirely due to new full-time employment. The labour force (those working or looking for work) was up by 1,700 (+2.8%) compared to a year ago. The region's unemployment rate declined to 15.7% in May from 18.6% the same month the year prior.

West Coast–Northern Peninsula–Labrador

45,500 people employed

Up 1.8% since May 2023

Employment in West Coast-Northern Peninsula-Labrador increased moderately in May from the same month a year prior. The majority of new job growth this year is full-time employment. The labour force (those working or looking for work) dropped by a steep 1,200 (-2.3%) compared to a year ago. An increase in employment and a smaller labour force year-over-year has led to a lower unemployment rate, 10.6% compared to 14.0% last May.

Last data refresh: 2024-06-12 23:00:49

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