Home Shoreline News Regional unemployment drops below 3 percent for first time since 2019

Regional unemployment drops below 3 percent for first time since 2019

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Regional unemployment is at its lowest in two years.

According to the Four County Labour Market Planning Board, the unemployment rate in the Stratford-to-Bruce-Peninsula economic region was at 2.8 percent for the month of November.

That is down 0.2 percent from the previous month and it is first time the unemployment rate has been under 3 percent since 2019.

The drop in unemployment was due to full-time gains (+400) offset by part-time losses (-300) though overall net employment remained steady at 162,200 for the third straight month.

Health care and social assistance made up much of the gains (+2,200) while the wholesale and retail (-1,300), and accommodation and food service (-1,300) had the most job losses.

The provincial unemployment rate saw a drop of 1 percent to 6.4 percent.