Highlights
- The Québec City census metropolitan area (CMA) recorded a total of 447,700 jobs in October, adding 2,700 since September and breaking a new monthly record in the process.
- The region turned in a fine performance last month, posting the strongest employment growth in the province and one of the highest among the country’s major metropolitan regions.
- Québec City also maintained its #1 ranking with the lowest unemployment rate in the province in October (5%).
- Across the province of Québec, the labour market shed 5,600 jobs from September to October as unemployment held steady at 7.7%.
Commentary
The demand for labour has been increasing in all regional economic sectors since the beginning of the year. Economic diversification, the delivery of a number of major projects and the improving US economy are all supporting the expansion of companies in the construction, manufacturing and services sectors. Demand is even more pronounced in light of employment growth among 25-to-54 year-olds. According to deseasonalized data in October, job creation was up in this age group as unemployment stood at 3.9%. In addition, with an employment rate of 88.8%, Québec City ranks first in Canada, ahead of Regina and Guelph, which shared second place in October (87.1%).
October’s strong performance will enable the region to consolidate the gains made in recent months. It could also act as a springboard, ensuring that 2016 gets off to a good start. It should be noted that the low unemployment rate, particularly among 25-to-54 year-olds, is an indicator of continued high demand for labour in the region. In this regard, nearly a dozen companies will be setting off for France in November to recruit qualified workers with various specializations.
Louis Gagnon
Senior Economist
Québec International
