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Canadian Real Estate Association
Employment Trends

The unemployment rate in Canada inched down 0.1 percentage points in the third quarter of 2008 compared to the previous quarter, settling at 6.1 per cent.


The unemployment rate for those aged 25 to 54, the primary home buying segment, was 5.2 per cent in the third quarter. This is up just 0.2 percentage points from the previous quarter, the lowest level in over 30 years.


A seasonally adjusted* total of 66,900 jobs were added in the third quarter of 2008. The increase reflects 19,300 more full-time positions, and 47,600 additional part-time jobs.


Full-time job growth in the first and third quarters of 2008 more than offset a decline in the second quarter, resulting in 62,700 additional full-time jobs since the beginning of the year.


Compared to the second quarter of the year, more than 40,000 new jobs were added in construction and more than 30,000 new jobs were added in health services in the third quarter.

Hiring also occurred in agriculture, forestry, fishing, mining and oil and gas extraction, manufacturing, transportation and warehousing, the financial sector, and in educational, accommodation, and food service industries.


Job gains in these industries offset layoffs in utilities, wholesale and retail trade, public administration, and in scientific, business, information, and cultural services.

* Seasonal adjustment removes normal seasonal fluctuations.


Source CREA


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