December 3, 1999
(Human Resources and Employment)

Newfoundland and Labrador reaches record high in employment

Employment in Newfoundland and Labrador has surged to a record high of 210,500, the highest rate for the month of November in the province's history. The economic momentum comes from the addition of 8,000 new jobs over the same time last year. This is an overall four per cent increase in growth as compared to last November.

The good news comes from Statistics Canada's latest Labour Force Survey. The survey also shows the province's unemployment rate has fallen to 14.6 per cent, the largest unemployment rate decline of any province. This latest number shows an unemployment decrease of 2.1 percentage points as compared to the same time period last year.

On a seasonally adjusted basis employment is up by 0.6 per cent or 1,300 jobs from last month. The unemployment rate dropped from 16.5 per cent to 16.1 per cent.

"What makes these numbers so impressive is that the province's unemployment rate is the lowest it has been in over a decade," said Julie Bettney, Minister of Human Resources and Employment, pointing out that figures as low as these for November have not been recorded for the province since 1988.

The employment gains were widespread, covering all four labour force regions of the province. Nearly all gains were in full time employment. Youth also benefitted from the positive employment upswing. The youth unemployment rate in the province dropped by 4.6 percentage points as compared to November 1998.

The latest employment growth can be attributed to increases in fish harvesting and processing, transportation and trade industries and stronger employment numbers in the overall Atlantic Region.

"Newfoundland and Labrador is enjoying a very exciting economic period," said Minister Bettney, "This is the 15th consecutive month the province has experienced employment growth. These latest indicators along with confidence from economic forecasters proves the province is moving towards an exciting and optimistic future."

Media contact: Marcia Porter, Communications, (709) 729-4062.

1999 12 03 3:25 p.m.