Labour market in province heats up

The weather isn�t the only thing heating up in Newfoundland and Labrador this summer.

The province continued to lead the country in employment growth for the month of July according to the latest Labour Force Survey from Statistics Canada. For the seventh consecutive month, Newfoundland and Labrador boasted strong gains in employment, making 2001 a banner year for employment growth.

While seasonally adjusted numbers fell from June to July, on a year over year basis provincial employment increased in July by 3.9 per cent or approximately 9,000 jobs compared with July last year. This brings year to date employment growth in 2001 to 3.2 per cent.

This latest growth was accompanied by a decrease in the unemployment rate as compared to the same time period last year. The unemployment rate for the month of July stood at 15.1 per cent, down 0.7 percentage points from July 2000.

"This latest employment data is very encouraging and certainly reflects confidence in the provincial economy," said Beaton Tulk, Deputy Premier and Minister of Industry, Trade and Rural Development. "This confidence has helped in creating a more diversified economy offering increased employment opportunities for Newfoundlanders and Labradorians."

Employment gains were broadly based on an industry basis. Significant gains were made in wholesale and retail trade, utilities, management services and public administration.

"Employment growth was dispersed throughout both urban and rural areas of the province," said Minister Tulk. "While there are still unemployment issues that must be addressed, recent employment increases indicate positive economic growth in all regions of the province."

According to the latest Labour Force Survey, on average over the past three months, all regions of the province recorded employment growth.  The Avalon Peninsula saw a 5.1 per cent increase in employment while the West Coast-Northern Peninsula and Labrador Region boasted an increase of 6.7 per cent. The South Coast and Burin Peninsula marked an 8.9 per cent increase. The Central Newfoundland-North East Coast saw employment grow by 0.2 per cent, a turnaround from earlier in the year.

"The Government of Newfoundland and Labrador, working with our community partners, has made a strong commitment to developing a provincial economy that can benefit all residents of the province," said Minister Tulk. "It�s very encouraging to see these efforts, consistent with our commitment to our Jobs and Growth Strategy, translate into solid employment growth. The employment numbers for not only this month, but for the entire year to date, prove that we are on the right track in creating employment opportunities and developing a healthy and stable economy for the future. For the first seven months of this year, 207,100 are employed, an increase of approximately 6,400, as compared to the same time period last year."

Media contact: Paul Power, Communications, (709) 729-6156.

2001 08 10                                                      2:55 p.m.