The regional unemployment rate in the area that includes Bruce and Grey counties fell in October, as labour force declines offset the loss of thousands of full-time jobs.
The Four County Labour Market Planning Board says the Statford-Bruce Peninsula jobless rate hit 2.3 per cent last month, down from 2.7 per cent in September.
The planning board says this is the lowest unemployment rate in Ontario, and also the lowest rate recorded by Statistics Canada in the region since 2006.
The drop in unemployment comes even as net employment in the Stratford-Bruce Peninsula region fell in October by 1,100. More than 2,400 full-time jobs were lost, offset by 1,300 new part-time positions.
The construction (-2,300), wholesale and retail trade (-1,800) and agriculture industries led the employment losses. The greatest job gains came in the educational services (+2,300) and information, culture and recreation (+1,500) sectors.
The region’s labour force participation rate fell to 63 per cent in October (169,800 people), down from 63.8 per cent a month prior (171,700 people).
The Four County Labour Market Planning Board says the labour force number includes number of civilian, non-institutionalized persons 15 years of age and over who, during the reference week, were employed or unemployed and looking for work.
“Job vacancies remain unfilled for long periods as our local employers continue to struggle to attract and retain the workforce they require.” Dana Soucie, Executive Director for the Four County Labour Market Planning Board says. “As our unemployment rate remains chronically low; the current worker shortages will require innovative solutions and community collaboration.”
More than 2,600 job postings are currently available on the regional board for Bruce, Grey, Huron and Perth counties.