June 4, 1999
(Human Resources and Employment)

Province leads country in employment growth

Human Resources and Employment Minister Julie Bettney said today she is pleased that year over year employment in the province continues to grow. From May 1998 to May 1999, the province experienced an 8.3 per cent increase in employment, the strongest growth for any province. The unemployment rate declined slightly to 19.3 per cent.

Minister Bettney also noted that seasonally adjusted employment increased 5.8 per cent from April 1999 to May 1999 to a record level of 214,700. The seasonally adjusted unemployment rate declined to 17 per cent from 18.5 per cent.

"More Newfoundlanders and Labradorians are working and participating in the labour force than ever before," said Minister Bettney. "This shows strength in the province's economy and confidence on the part of employers. For example, the youth unemployment rate declined by 3.7 per cent from May 1998."

Growth in employment was lead by gains in the fishing industry, construction and trade. The strengthening of the fishery is leading to more jobs in fish processing. Construction benefitted from work on the Terra Nova Project and increased residential construction. Employment in wholesale and retail trade grew due to increased consumer spending.

"The month of May indicated an impressive growth in employment," said the minister. "Labour market performance has been on an improving trend over the past two and a half years. While we expect this trend to continue, the degree of improvement can fluctuate from month to month and vary from region to region."

Media contact: Lynn Evans, Communications, (709) 729-5611.

1999 06 04         2:20 p.m.