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June 09, 2023LABOUR MARKET TRENDS, MAY 2023 May labour force survey results reflect the period from May 14 to 20, 2023. Wildfires in the province started after this reference week.
Ages 15+ (May 2023 vs April 2023, seasonally adjusted)
Nova Scotia's seasonally adjusted employment decreased 5,200 (-1.0%) to 492,100 in May 2023.
The change in employment was attributable to a decrease in full-time employment (-8,600) and a smaller increase in part-time employment (+3,500). Note that changes in full-time and part-time employment can also reflect changing hours for the same job.
Nova Scotia’s labour force decreased by 8,800 (-1.7%) to 522,000 in May 2023.
With labour force declining faster than employment , Nova Scotia's unemployment rate was down 0.6 percentage points to 5.7% in May 2023. This is near a historic low unemployment rate in modern LFS data that starts in 1976. Annual unemployment rates were lower in the late 1960s and early 1970s.
Nova Scotia's labour force participation rate was down 1.2 percentage points to 60.7% in May 2023. The employment rate was down 0.8 percentage points to 57.2% in May 2023.
Ages 15+ (May 2023 vs May 2022, seasonally adjusted)
Compared with May 2022, Nova Scotia's population over the age of 15 had increased by 23,400 (+2.8%) while the labour force grew by 2,100 (+0.4%) and employment increased by 7,700 (+1.6%). The unemployment rate decreased by 1.1 percentage points with the participation rate down 1.4 percentage points and the employment rate down 0.7 percentage points.
Ages 15+ (January-May 2023 vs January-May 2022, seasonally adjusted)
Compared with January-May of 2022, Nova Scotia's population over the age of 15 had increased by 22,400 (+2.7%) while the labour force grew by 11,000 (+2.1%) and employment increased by 15,000 (+3.1%). The unemployment rate decreased by 0.9 percentage points with the participation rate down 0.3 percentage points and the employment rate up 0.3 percentage points.
Age Cohorts (May 2023 vs April 2023, seasonally adjusted)
Among youth (ages 15-24), employment decreased by 3,700 (-5.5%) and the labour force decreased 3,800 (-5.0%). With a larger decrease in employment than the labour force, the youth unemployment rate was up 0.4 percentage point to 11.2% in May. The youth participation rate was down 3.7 percentage points to 63.5% and the youth employment rate was down 3.6 percentage points to 56.3%.
The population aged 25-54 makes up the largest part of the labour force. In the core age group, employment was down by 2,200(-0.7%) while the labour force decreased by 5,500 (-1.7%). Because employment declined less than the labour force, the core aged unemployment rate was down 1.0 percentage points to 4.8% in May 2023. The core aged participation rate decreased 1.9 percentage points to 86.3% while the core aged employment rate decreased 0.9 percentage points to 82.2%.
Older workers (aged 55+) reported small increases in both labour force (+600 or +0.5%) and employment (+800 or +0.7%). With labour force increasing less than employment, the older worker unemployment rate decreased 0.2 percentage points to 4.9%. The older worker participation rate was up 0.1 percentage points to 33.8% and the employment rate for older workers was up 0.2 percentage points to 32.2%.
Males and Females (Ages 15+, May 2023 vs April 2023, seasonally adjusted)
Monthly employment decreased by 1,300 (-0.5%) for males while the labour force decreased 2,300 (-0.9%). With a larger decrease in labour force than employment, the male unemployment rate declined 0.4 percentage points to 6.7% in May. The male participation rate was down 0.7 percentage points to 63.4% and the male employment rate was down 0.5 percentage points to 59.1%.
Females reported a decrease in employment (-3,800 or -1.5%) and labour force (-6,500 or -2.5%) With the larger decrease in labour force than employment, the female unemployment rate decreased 0.9 percentage point to 4.7% in May. Female participation rates were down 1.6 percentage points to 58.2% and the female employment rate was down 1.0 percentage points to 55.5%.
Overall, last month's labour force decrease was largely in youth and core-aged workers and larger for females than males. Employment declines were smaller than labour force declines for all cohorts, except older workers where both labour force and employment grew.
Age and sex cohorts (May 2023 vs May 2022, seasonally adjusted)
Compared with May 2022, labour force and employment growth was concentrated among core aged workers (whose population is also growing more than others). Youth (15-24) and older workers (55+) populations grew but had lower labour force and employment decline for youth and was little changed for older workers. Unemployment was down for all cohorts. Female employment and labour force gains have accounted for most of the increase over the past year.
Age and sex cohorts (January-May 2023 vs January-May 2022, seasonally adjusted)
Comparing the first five months of 2023 with same months last year, labour force and employment gains are mostly among core aged workers. Youth labour force and employment had small decrease. Among older workers, employment has risen while the labour force declined. Although there were similar population increases, the labour force and employment among females has increased more than among males.
Class of Worker and Industry (May 2023 vs April 2023, seasonally adjusted)
The May 2023 employment change reflected decreases in private sector workers (-4,300 or -1.4%) and public sector workers (-1,700 or -1.4%) while self-employment increased (+1,000 or +1.7%).
Classified by industry, the employment change from April to May reflected decreases in health/social assistance, public administration, finance/insurance/real estate, manufacturing and accommodation/food services. Employment was up in wholesale/retail. Other sectors had small changes.
Class of Worker and Industry (May 2023 vs May 2022, seasonally adjusted)
Compared to May 2022, there was a large gain in employment for private sector workers (+13,200 or +4.4%) and declines in public sector workers (-4,400 or -3.6%) and self-employment (-1,000 or -1.7%).
Over the last 12 months, employment by industry has risen most for wholesale/retail, information/culture/recreation, accommodation/food services and personal/repair services. There were employment losses in construction, business support services, health care/social assistance, and utilities.
Class of Worker and Industry (January-May 2023 vs January-May 2022, seasonally adjusted)
The average employment levels for January-May 2023 compared to January-May 2022 increased for private sector (+17,000 or +5.6%), was nearly unchanged for public sector (+100 or +0.1%) and decreased for self-employed (-2,100 or -3.4%). The first five months average employment had the most notable gains in information/culture/recreation, wholesale/retail, personal/repair, public administration, professional/technical and accommodation/food services. Lower employment was in business support services, utilities, agriculture, and construction.
Hours worked and employment (May 2023, unadjusted)
A larger share of workers in construction, manufacturing, forestry/fishing/mining and transportation/warehousing worked more than 40 hours per week in May 2023.
Note that some data on those working few hours in utilities, forestry, fishing, and mining and agriculture were suppressed.
Average weekly earnings (unadjusted, both full time and part time, May 2023 vs May 2022)
Average weekly earnings increased by 3.3% from May 2022 to May 2023. The fastest gains in average weekly earnings were in forestry/fishing/mining, wholesale/retail, and businesses support. Average weekly wages were down in utilities, personal/repair services, and agriculture.
The increase in Nova Scotia's all items consumer price index was 4.5% from April 2022 to April 2023.
Average weekly earnings across all employees were $1,053.54 in May 2023. The highest average weekly earnings (both full and part time employees) were reported in forestry/fishing/mining, professional/technical services, public administration and utilities. The lowest average weekly earnings were in accommodation/food services, business support services, agriculture, wholesale/retail trade, and personal/repair services.
Average weekly earnings (unadjusted, both full time and part time, January-May 2023 vs January-May 2022)
Average weekly earnings for the first five months of the year were 5.0% higher than same months last year. Agriculture, wholesale/retail, business support/call centres, and finance/insurance/real estate reported the fastest growth. Average wages in information/culture/recreation, and personal/repair services. reported declines.
Regions (May 2023 vs May 2022, unadjusted 3 month moving average)
Compared with May 2022, the labour force and employment increase was concentrated in Halifax. Annapolis Valley and Southern reported increase in both labour force and employment compared to May 2022. North Shore had a small decline in labour force while employment grew. Cape Breton labour force and employment were down compared to last year.
Unemployment rates declined for Cape Breton, North Shore and Southern while increasing in Annapolis Valley and Halifax. The participation rate increased for North Shore, Southern and Halifax. The employment rate was up only in Halifax.
Regions (January-May 2023 vs January-May 2022, unadjusted 3 month moving average)
For the first five months of 2023, Cape Breton and North Shore had declines in both labour force and employment. Increases in employment and labour force were concentrated in Halifax. Employment was up more than the labour force in Annapolis Valley and Southern compared to January-May 2022.
Provincial Comparisons (seasonally adjusted)
Canada's labour force grew by 0.1% from April to May. Nova Scotia's labour force was down 1.7%. Manitoba reported the fastest labour force gains over this period. Nova Scotia and Newfoundland and Labrador reported the largest declines in labour force over the last month.
Compared with May 2022, national labour force was up 1.8% (+0.4% in Nova Scotia). The fastest increase was in Prince Edward Island, Manitoba, and Alberta while Newfoundland and Labrador reported the only decline.
Canada's employment had a decrease of 17,300 (-0.1%) from April to May. Newfoundland and Labrador reported the largest decline and Manitoba reported the largest increase.
Compared with May 2022, Nova Scotia's employment was up 1.6% in May 2023, similar to the national gain of 1.8%. The largest increases were in Prince Edward Island, New Brunswick, Manitoba and Alberta and the only decrease was in Newfoundland and Labrador.
The national unemployment rate was 5.2% in May 2023, up 0.2 percentage points from April 2023 and unchanged from 5.2% in May 2022. Quebec had the lowest unemployment rate while Newfoundland and Labrador reported the highest unemployment rate.
The national participation rate was 65.5% in May 2023. The highest participation rates were in Alberta, Manitoba, Saskatchewan, and Prince Edward Island while the lowest was in Newfoundland and Labrador.
The national employment rate was 62.1% in May 2023. Alberta reported the highest employment rate while Newfoundland and Labrador reported the lowest.
Census Metropolitan Areas (May 2023, seasonally adjusted 3 month moving average)
The Halifax unemployment rate was 4.9% in the seasonally adjusted May 2023 three month moving average. This was below the national average, with the rest of Nova Scotia above at 7.1%. In central and western provinces, unemployment rates in Census Metropolitan Areas are similar to or higher than unemployment rates outside CMAs. In the Atlantic Provinces unemployment rates are typically higher outside CMAs.
Halifax's participation rate was 68.0% in the seasonally adjusted May 2023 three month moving average while participation rates were 55.3% across the rest of the province.
Halifax reported an employment rate of 64.8% in the seasonally adjusted May 2023 three month moving average while the employment rate was 51.4% outside the city.
Sources: Statistics Canada. Table 14-10-0036-01 Actual hours worked by industry, monthly, unadjusted for seasonality; Table 14-10-0063-01 Employee wages by industry, monthly, unadjusted for seasonality; Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months; Table 14-10-0380-01 Labour force characteristics, three-month moving average, seasonally adjusted; Table 14-10-0387-01 Labour force characteristics, three-month moving average, unadjusted for seasonality, last 5 months; Table 14-10-0355-01 Employment by industry, monthly, seasonally adjusted and unadjusted, and trend-cycle, last 5 months (x 1,000); Table 14-10-0288-01 Employment by class of worker, monthly, seasonally adjusted and unadjusted, last 5 months (x 1,000); Table: 14-10-0380-02 Labour force characteristics, three month moving average, seasonally adjusted (x 1,000)
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