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The Québec City CMA Records a 1,400 Jobs Increase and an Unemployment Rate of 3.2% in February

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Highlights

  • In February, the Québec City CMA recorded a 1,400 jobs increase, reaching a new high of 453,600 jobs.
  • The vigorous labour market was reflected by the unemployment rate, which reached a new historical low of 3.2%, a 0.1 percentage point diminution compared to January.
  • The employment rate also improved, reaching 66.5%, remaining above the 66% mark for a second consecutive month.
  • As for the province of Quebec, it recorded a monthly loss of 2,900 jobs, and its unemployment rate upped 0.2 percentage points, reaching 5.6% in February.
2018-03-09_breve_econo_graph1.png

Québec City CMA: Mensual Evolution of the Labour Market

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2018-03-09_breve_econo_graph2.png

Labour market in February 2018

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Commentary

The labour market continues its expansion in the Québec City area in this beginning of 2018. The gain of 1,400 jobs in February follows the 4,700 jobs created in January. This performance allowed the region to record a seventh consecutive months growth. The Labour Force Survey, realized by Statistics Canada, revealed that the Québec City CMA recorded a new high of 453,600 jobs in February, thus recording growth for seven months in a row. The vigorous labour market was reflected by the unemployment rate, which reached 3.2%, a 0.1 percentage point diminution compared to January. This historical low allowed the Québec City CMA to maintain its first rank among Canadian CMAs. The employment rate also improved. At 66.5%, it remained above the 66% mark for a second consecutive month.

The services sector seems to have supported most of the new jobs in February, while the manufacturing sector compensated for the temporary lull on construction sites. Note that the demand among workers aged 25 to 54 remains strong due to a high employment rate. On a seasonally unadjusted basis, the employment rate for this age group has been close to 90% for nine consecutive months, established at 89.9% in February. The employment rate for those aged 55 and over is also increasing, reaching 32.7%.

The Québec City CMA’s economic growth and the recovery of construction sites may support job creation in March. Such a scenario would allow the area to record an increase in jobs for eight months in a row, repeating the performance from 2004 and 2007.

Émile Émond
Junior Economist

Louis Gagnon
Senior Economist
Québec International

 
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