Highlights
- The Québec City census metropolitan area (CMA) recorded a total of 445,900 jobs in November, down 1,800 from the exceptional level recorded in October.
- The region continued to post one of Canada's lowest unemployment rates in November (4.8%).
- Across the province of Québec, the labour market shed 4,000 jobs from October to November as unemployment dipped to 7.5%, down 0.2 points.
Commentary
Canada's labour market lost some steam in November as a number of metropolitan regions that had had the wind in their sails since the beginning of the year were impacted. The Quebec City CMA was no exception to the monthly trend, posting 445,900 jobs overall, down slightly from the exceptional level in October (-1,800). Unemployment, however, held steady as the labour force shrunk by 0.6%, more than the total number of jobs (‑0.4%).
After a gain of 2,700 jobs in October, November appears to have marked a period of adjustment for the region. Compared with 2014, the Quebec City CMA has maintained a positive cross-sector balance sheet since the beginning of the year, with services, manufacturing and construction all performing well. In demographic terms, the demand for labour remains high in all age groups, particularly in the 25-to-54 and 55+ categories. It should be noted that Quebec City had Canada's lowest unemployment rate (3.1%) and highest employment rate (88.9%) among 25-to-54 year-olds in November (non-seasonally adjusted data).
Despite the slight decline in November, the demand for labour remains strong in the Quebec City CMA. Based on the fine year-to-date performance, the region looks set to finish 2015 with 8,000 jobs more than it had in 2014—its best performance since the 9,500-job gain in 2011. The robust regional economy and an improved global economic outlook look likely to support this growth.
Louis Gagnon
Senior Economist
Québec International
