March sets employment growth records

Employment in Newfoundland and Labrador grew by 1.9 per cent, or 3,800 persons, in March 2003 compared to March 2002 according to the Statistics Canada�s Labour Force Survey. Employment in March was 202,600 persons, the first time that employment exceeded 200,000 for the month of March.

Driven by an increase in the labour force participation rate of 1.3 percentage points to 56.9 percent, the labour force grew by 2.2 per cent, or 5,500 persons, to 250,000. These are record highs in labour force size and labour force participation for the month of March. Because labour force growth exceeded employment growth, the unemployment rate increased by 0.3 percentage points on a year-over-year basis and stood at 19.0 per cent in March 2003.

Ralph Wiseman, Minister of Human Resources and Employment said today: "This year has started off well in terms of labour market growth, and we expect to see continued momentum as major project construction activity such as White Rose and Voisey�s Bay picks up. The recent announcement on the White Rose work at the Bull Arm fabrication site should reinforce this trend.

"More and more Newfoundlanders and Labradorians are entering the workforce than ever before and that is good news. People are optimistic and there is confidence in the economy and the future of the province."

Employment growth was concentrated in construction, and services sector industries such as health care, accommodations and food services, transportation and warehousing, and professional, scientific and technical services.

On a seasonally adjusted basis, employment in March was virtually unchanged from last month at 218,700, and the unemployment rate declined by 0.4 percentage points to 17.1 per cent.

Seasonally adjusted data looks at patterns of employment change within the current year from one month to the next, whereas the actual data compares employment this year to employment the same time last year.

Media contact: Simon Lono, Communications, (709) 729-4062.

2003 04 04                                         2:55 p.m.