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Despite a decline in September, the Quebec City region made major job gains in the third quarter

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Highlights

  • According to Statistics Canada's Labour Force Survey, the Quebec City census metropolitan area (CMA) recorded a total of 427,600 jobs in the third quarter, up 12,800 from the same period in 2013.
  • July's strong showing offset the subsequent lull, which took the form of a 2,600-job decline between August and September.
  • Unemployment held steady at 5.7% for the third month in a row—the lowest rate not only in the province of Quebec, but also in the rest of Eastern Canada.
  • For the province of Quebec, 6,500 jobs were added on a monthly basis in September as unemployment dropped slightly from 7.7% in August to 7.6% in September.

Commentary

Hiring prospects remained favourable in the Quebec City CMA in the third quarter of 2014. The region posted a total of 427,600 jobs, up 12,600 from the same period in 2013. As a result, Quebec City is positioned among Canada's top-performing metro areas. In addition, Quebec City has the lowest unemployment rate (5.7%) in the province of Quebec and the rest of Eastern Canada.

Employment growth this summer, compared with last year, stemmed from the services sector's robust showing and improved hiring prospects in the manufacturing sector. These gains were enough to offset the slowdown in the residential segment of the construction industry.

The gains over the past 12 months have paved the way for fall 2014, which is shaping up to be a good one in terms of Quebec City's labour market as new residential and non-residential projects are in the works. In addition, a more sustained US recovery points to increased benefits for companies across the Quebec City region. Nevertheless, the loss of 2,600 jobs between August and September serves as a reminder that companies continue to adjust to various constraints, such as strong foreign competition. The improved state of Quebec's public finances is another issue to which the region will have to adapt.

Louis Gagnon
Senior Economist
Québec International

 
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LouisGagnonSenior Economist

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