Employment up; unemployment down for August

According to the latest Labour Force Survey from Statistics Canada, Newfoundland and Labrador�s employment numbers continue to move upwards while the unemployment rate for the province goes down.

The province experienced employment growth for the eighth consecutive month. On a year-over- year basis employment rose 1.6 per cent for the month of August, or approximately 3,800 jobs. Along with job growth came a decrease in the unemployment rate of 0.7 percentage points to 14.2 per cent. The province�s labour force participation rate also continued to climb to stand at 62.9 per cent, an increase of 0.6 percentage points.

The unemployment rate is at the lowest level for the month of August since 1989. Both employment and the labour force participation rate hit record highs for the month of August.

"The latest figures from Statistics Canada affirms that Newfoundland and Labrador continues to make solid labour market gains," said Ralph Wiseman, Minister of Human Resources and Employment. "We have experienced employment increases every month this year indicating that 2003 will turn out to be another successful year for the province in way of employment growth."

Growth was mainly concentrated in the forestry, fishing, mining oil and gas; transportation and warehousing; information, culture and recreation; and accommodation and food services sectors.

On a seasonally adjusted basis the numbers were also positive for August. Employment was up 0.8 per cent compared to July while the unemployment rate dropped to 15.6 per cent, a decrease of 0.2 percentage points. 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.

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

2003 09 05                                        2:30 p.m.