Newfoundland and Labrador
Newfoundland and Labrador's labour market continues to improve
Despite breaking the 50.0% barrier in 2006 and hitting a new record high in 2007, Newfoundland and Labrador's annual employment rate was still lower than that of the other provinces. From 1996 to 2007, the employment rate increased by 8.9 percentage points to 51.2%. The current gap between Newfoundland and Labrador's employment rate and the national average (12.3 percentage points) is the narrowest it has been in over 30 years.
While exports of oil and metallic minerals were responsible for a hike in the province's gross domestic product in 2007, the mining, oil and gas extraction industry was not a major source of job growth. Rather, employment increased more in a number of other industries, including professional and scientific services, health care and social assistance, and accommodation and food services. Overall, employment in 2007 in Newfoundland and Labrador was up slightly from 2006.
After remaining stable for a number of years, the unemployment rate in Newfoundland and Labrador has been falling for the last few years, dropping to 13.6% in 2007, still the highest rate in the country. However, the trend in labour force participation is encouraging. In 2007, participation in the economy was at 59.2%, just one-tenth of a percentage point below its 2003 peak.
Employment rates in Newfoundland and Labrador, 1976 to 2007
Source: Statistics Canada, Labour Force Survey, CANSIM table 282-0002.
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