Labour Force Survey reports further growth in employment

Employment in Newfoundland and Labrador showed further growth in May according to the latest release of the Labour Force Survey from Statistics Canada. Employment in May climbed to 220,500, a gain of 4,000 or 1.8 per cent over May 2002 and the unemployment rate declined by 0.9 percentage points on a year-over-year basis to stand at 17.6 per cent for May 2003.

Optimism within the labour market persists with the labour force size increasing by 1,800 to 267,700. The overall participation rate also increased from 60.6 per cent to 61.0 per cent. These are further record highs in employment, labour force size and participation rates for the month of May.

"I am encouraged by the steady increase in employment seen in the province," said Ralph Wiseman, Minister of Human Resources and Employment. "The year-over-year growth in these key indicators show that more individuals are entering the labour force with the confidence that they will find available work."

Industries displaying growth included transportation and warehousing; health care; and accommodation and food services.

On a seasonally adjusted basis, employment increased by 0.3 per cent, while the unemployment rate decreased 0.9 percentage points to stand at 16.4 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 last year.

"These figures can undergo short-term shifts due to temporary economic factors such as the possible employment effects arising from the recent setback in the crab fishery. While government continues to pursue all measures necessary to find a satisfactory resolution and protect the livelihood of those affected, the long-term employment trends remain positive", said Minister Wiseman.

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

2003 06 06                                       3:45 p.m.