August 7, 1998
(Executive Council)

Premier notes continued strength in employment trends

Premier Brian Tobin said today that he is pleased that employment growth in the province continues to be strong. The premier was responding to Statistics Canada's Labour Force Survey for July released this morning.

"For 12 consecutive months we have seen year over year job gains in Newfoundland and Labrador," said Premier Tobin. "There were 7,600 more jobs in July than there were a year earlier, an increase of 3.6 per cent. Only one other province, Alberta, recorded a stronger increase in employment."

From January to July this year employment increased by 4.1 per cent over the same period last year. This was the strongest employment growth the province has experienced since 1989.

"It is apparent that the strong economic growth that was forecast for Newfoundland and Labrador this year is translating into greater job opportunities for Newfoundlanders and Labradorians. Oil production from Hibernia and a revitalization of our fishery have been important factors underlying economic expansion," the premier noted. "In addition, there are other positive economic indicators in this province. Retail trade, in the January to May period, grew by 4.2 per cent over the same period last year. Also, the value of manufacturing shipments grew by 14 per cent, while iron ore production expanded by 5.6 per cent."

The premier also noted that employment growth was recorded in all four of Statistics Canada's labour force regions in the province.

"Employment growth for the May to July period ranged from a year over year gain of three per cent in the West Coast-Northern Peninsula-Labrador region to 7.4 per cent in the Notre Dame-Central-Bonavista Bay region."

The province's unemployment rate dropped by a full percentage point to 17.4 per cent from 18.4 per cent in July 1997.

"This is the lowest the rate has been since July 1991," said the premier. "This is encouraging news and proof that we are heading in the right direction. We must continue to work to increase employment opportunities for the people of Newfoundland and Labrador."

Contact: Heidi Bonnell, 685-3674.

1998 08 07                   2:45 p.m.