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| Posted: 07/16/2008 | Employment Commentary, Jun 2008 | Next due: Aug 13, 2008 |
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| Employment Increased by 2.8% in June 2008 | ||||||||||||||||||||||||||||||||||||||
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Employment in Newfoundland and Labrador increased in June 2008. The number of people employed totalled 237,000, representing an increase of 6,400 persons or 2.8% relative to June 2007. Improving employment opportunities enticed more people to engage in the labour market as evidenced by an increase in the participation rate. The participation rate was 62.5% in June 2008, representing an increase of 0.9 percentage points compared to June 2007. As a result of the higher participation rate, the labour force increased by 2.1% or 5,500 persons. The unemployment rate decreased by 0.5 percentage points to 11.0%. On an industry basis, employment gains were recorded in both the services producing sector and the goods producing sector in June 2008. Employment increased most notably in the following industries: construction; public administration; transportation and warehousing; other services; and, health care and social assistance. Despite the overall gain, employment losses were recorded in some industries – particularly, manufacturing; primary fishing; educational services; trade; information, culture and recreation; and, accommodation and food services. On a year-to-date basis (January to June), employment averaged 216,800, recording a 2.7% increase over the same period of 2007. The Department of Finance’s April 2008 forecast projects employment to grow by 1.5% and the unemployment rate to average 12.4% in 2008. |
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