Unveiling the September 2023 Labor Market Report

September Unemployment Rate: Brantford 4.7% [-] Ontario 6.0% [+] Canada 5.5% [=].

Be sure to review the participation rate and the employment rate (reported as percentages), as well as the labour force, the employed, and the unemployed values (reported as absolute numbers). These give a better picture of changes in the market.

The report includes annual rates for the last 10 years, comparing Brantford to surrounding CMAs as well as the provincial and national levels.

Overview from Statistics Canada

Highlights

Employment rose by 64,000 (+0.3%) in September, following an increase of 40,000 (+0.2%) in August.

The employment rate—the proportion of the population aged 15 and older who are employed—rose 0.1 percentage points to 62.0%, offsetting a decline in the previous month.

The unemployment rate was unchanged in September and stood at 5.5% for the third consecutive month.

Employment increased among core-aged (aged 25 to 54 years) women (+37,000; +0.6%) and men (+32,000; +0.5%), while it was little changed for youth aged 15 to 24 and people aged 55 and older.

There were more people employed in educational services (+66,000; +4.5%), offsetting a decrease of 44,000 (-2.9%) in August. Employment in transportation and warehousing also increased (+19,000; +1.8%), while there were fewer people employed in finance, insurance, real estate, rental and leasing (-20,000; -1.4%), construction (-18,000; -1.1%) and information, culture and recreation (-12,000; -1.4%).

Employment increased in six provinces in September, led by Quebec (+39,000; +0.9%) and British Columbia (+26,000; +0.9%). Employment declined in Alberta (-38,000; -1.5%) and New Brunswick (-2,700; -0.7%).

On a year-over-year basis, average hourly wages rose 5.0% (+$1.63 to $34.01) in September, following increases of 4.9% in August and 5.0% in July.

Total hours worked were virtually unchanged in September and rose by 2.6% on a year-over-year basis.

Employment rate edges up, offsetting decline in the previous month

Employment rose by 64,000 (+0.3%) in September, following an increase of 40,000 (+0.2%) in August. On average, employment has grown by 30,000 per month since the beginning of the year.

The upward trend in employment continues to occur in the context of the highest rate of population growth since 1957. In September, the population aged 15 and older in the Labour Force Survey (LFS) increased by 82,000 (+0.3%).

The employment rate—the proportion of the population aged 15 years and older who are employed—can help assess whether employment growth is keeping pace with population growth. Given the pace of population growth recorded in recent months, employment gains of approximately 50,000 per month are needed for the employment rate to remain constant.

In September, the employment rate rose 0.1 percentage points to 62.0%, offsetting the decline recorded in August. The employment rate in September was little changed from the same month in 2022 (61.9%), but was down 0.5 percentage points from the recent peak recorded in January 2023 (62.5%).

Employment rose by 64,000 (+0.3%) in September, following an increase of 40,000 (+0.2%) in August.

The employment rate—the proportion of the population aged 15 and older who are employed—rose 0.1 percentage points to 62.0%, offsetting a decline in the previous month.

The unemployment rate was unchanged in September and stood at 5.5% for the third consecutive month.

Employment increased among core-aged (aged 25 to 54 years) women (+37,000; +0.6%) and men (+32,000; +0.5%), while it was little changed for youth aged 15 to 24 and people aged 55 and older.

There were more people employed in educational services (+66,000; +4.5%), offsetting a decrease of 44,000 (-2.9%) in August. Employment in transportation and warehousing also increased (+19,000; +1.8%), while there were fewer people employed in finance, insurance, real estate, rental and leasing (-20,000; -1.4%), construction (-18,000; -1.1%) and information, culture and recreation (-12,000; -1.4%).

Employment increased in six provinces in September, led by Quebec (+39,000; +0.9%) and British Columbia (+26,000; +0.9%). Employment declined in Alberta (-38,000; -1.5%) and New Brunswick (-2,700; -0.7%).

On a year-over-year basis, average hourly wages rose 5.0% (+$1.63 to $34.01) in September, following increases of 4.9% in August and 5.0% in July.

Total hours worked were virtually unchanged in September and rose by 2.6% on a year-over-year basis.

Employment rate edges up, offsetting decline in the previous month

Employment rose by 64,000 (+0.3%) in September, following an increase of 40,000 (+0.2%) in August. On average, employment has grown by 30,000 per month since the beginning of the year.

The upward trend in employment continues to occur in the context of the highest rate of population growth since 1957. In September, the population aged 15 and older in the Labour Force Survey (LFS) increased by 82,000 (+0.3%) .

The employment rate—the proportion of the population aged 15 years and older who are employed—can help assess whether employment growth is keeping pace with population growth. Given the pace of population growth recorded in recent months, employment gains of approximately 50,000 per month are needed for the employment rate to remain constant.

In September, the employment rate rose 0.1 percentage points to 62.0%, offsetting the decline recorded in August. The employment rate in September was little changed from the same month in 2022 (61.9%), but was down 0.5 percentage points from the recent peak recorded in January 2023 (62.5%).

Local Top Line

• September Unemployment Rate: Brantford 4.7% [-] Ontario 6.0% [+] Canada 5.5% [=].
• The local unemployment rate decreased by 0.1 month over month.
• The local labour force expanded by 300 month over month.
• The number of employed increased by 200 month over month.
• The number of unemployed did not change month over month.
• When compared to the surrounding CMAs of Hamilton, Niagara, Waterloo, Guelph, and London, Brantford’s unemployment rate is lowest.