Employment rates in Toronto held steady for a second consecutive month in August according to Statistics Canada with the employment rate declining by 0.3% to 67%. Across Canada, on a year-over-year basis, average hourly wages rose 4.9% (+$1.56 to $33.47) in August, following an increase of 5.0% in July. Total hours worked were up by 0.5% in August and by 2.6% on a year-over-year basis.
Toronto’s labour market continued to show signs of resilience and strength during July. Toronto’s rate of unemployment remained stable as it rose slightly to 6.1 percent. The participation rate (those working or actively looking for work) remained at 68 percent, well above pre-pandemic levels. Economists note that an increase in the number of people participating in the labour force has positive impact on the overall economy.
People have an innate compulsion to categorize, to make sense of chaos and confusion, and to right their place in the world. Labels give us a sense of order and often provide the media with a simple way of describing what is going on – whether in pop culture, politics or even our complicated labour markets.
Event Recap of the Think Design: A Labour Market Analysis of Toronto’s Design Sector Presentation
Design is recognized around the world as a key to economic and social prosperity. Toronto is well positioned to take advantage of this current design focus with a critical mass of designers working in the design disciplines of architecture, landscape…
Employment in the Toronto Census area increased by 2.2% in July. This was the same rate of increase as the province, despite the loosening of the COVID-19 restrictions occurring later in Toronto than in most other regions in the province. Employment in Toronto has reached 89.9% of its February 2020 level.
In June, according to the latest release from Statistics Canada’s Labour Force Survey, Toronto CMA reclaimed almost 200,000 jobs which were lost due to the coronavirus pandemic.
Overall job postings for the period of May 30 to June 12th remained relatively static and have plateaued since late May. Postings are averaging between 2,200 and 2,500 per week.
According to Stats Canada’s May Labour Force Survey (LFS), Toronto CMA has now lost over 500 thousand jobs in the last three months since the COVID-19 pandemic was declared.
After two months of steep declines in total on-line job postings, data collected over the past two weeks suggest that there is reason to be cautiously optimistic about the Toronto job market.