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November 03, 2023LABOUR MARKET TRENDS, OCTOBER 2023 October labour force survey results reflect the period from October 8 to 14, 2023.
Ages 15+ (October 2023 vs September 2023, seasonally adjusted)
Nova Scotia's seasonally adjusted employment increased 8,200 (+1.7%) to 503,000 in October 2023, following 3,200 (+0.7%) increase in employment the previous month.
The change in employment was attributable to an increase in full-time employment (+2,500) and increase in part-time employment (+5,700). Note that changes in full-time and part-time employment can also reflect changing hours for the same job.
Nova Scotia’s labour force increased by 7,300 (+1.4%) to 538,800 in October 2023.
With a larger increase in employment than the labour force, Nova Scotia's unemployment rate was down 0.3 percentage points to 6.6% in October 2023.
Nova Scotia's labour force participation rate was up 0.7 percentage points to 61.8% in October 2023. The employment rate was up 0.8 percentage points to 57.7% in October 2023.
Ages 15+ (October 2023 vs October 2022, seasonally adjusted)
Compared with October 2022, Nova Scotia's population over the age of 15 had increased by 23,600 (+2.8%) while the labour force grew by 15,800 (+3.0%) and employment increased by 16,200 (+3.3%). The unemployment rate was down 0.3 percentage points with the participation rate up 0.1 percentage points and the employment rate up 0.3 percentage points.
Ages 15+ (January-October 2023 vs January-October 2022, seasonally adjusted)
Compared with January-October of 2022, Nova Scotia's population over the age of 15 had increased by 23,100 (+2.8%) while the labour force grew by 11,800 (+2.3%) and employment increased by 13,000 (+2.7%). The unemployment rate decreased by 0.4 percentage points with the participation rate down 0.3 percentage points and the employment rate down less than 0.1 percentage points.
Age Cohorts (October 2023 vs September 2023, seasonally adjusted)
Among youth (ages 15-24), employment increased 3,300 (+5.0%) while the labour force increased 4,200 (+5.6%). With a smaller increase in employment than in the labour force, the youth unemployment rate was up 0.3 percentage points to 13.4% in October. The youth participation rate was down 3.1 percentage points to 68.0% and the youth employment rate was up 2.4 percentage points to 58.9%.
The population aged 25-54 makes up the largest part of the labour force. In the core age group, employment was down 300 (-0.1%) while the labour force decreased by 500 (-0.1%). Because employment and the labour force decreased by similar amounts, the core aged unemployment rate was unchanged at 5.2% in October 2023. The core aged participation rate decreased 0.3 percentage points to 87.5% and the core aged employment rate decreased 0.2 percentage points to 83.0%.
Older workers (aged 55+) reported an increase in the labour force (+3,800 or +3.1%) while employment increased (+5,200 or +4.6%). With labour force increasing less than employment, the older worker unemployment rate decreased 1.4 percentage points to 6.2%. The older worker participation rate was up 1.0 percentage points to 33.6% and the employment rate for older workers was up 1.4 percentage points to 31.5%.
Males and Females (Ages 15+, October 2023 vs September 2023, seasonally adjusted)
Monthly employment increased by 5,600 (2.3%) for males while the labour force increased 3,700 (+1.4%). With a smaller increase in labour force than employment, the male unemployment rate decreased 0.8 percentage points to 7.4% in October. The male participation rate was up 0.7 percentage points to 64.8% and the male employment rate was up 1.2 percentage points to 60.1%.
Females reported a 2,600 (+1.1%) employment gain while the labour force increased 3,700 (+1.4%). With employment increasing less than the labour force, the female unemployment rate increased 0.3 percentage point to 5.9% in October. Female participation rates were up 0.7 percentage points to 59.0% and the female employment rate was up 0.5 percentage points to 55.5%.
Overall, last month's labour force and employment gains were outside the core working age and higher for males compared to females.
Age and sex cohorts (October 2023 vs October 2022, seasonally adjusted)
Compared with October 2022, labour force and employment growth was concentrated among core aged workers (whose population is also growing more than others). Youth (15-24) labour force and employment both had small changes. The older cohort (55+) had an increase in population but a notably smaller increase in labour force and employment. Male population, labour force, and employment have increased more than females compared to October 2022.
Age and sex cohorts (January-October 2023 vs January-October 2022, seasonally adjusted)
Comparing the first 10 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 changes. Among older workers, there has been an increase in persons not in labour force (including retired persons) and declines in labour force, employment and unemployment. Although there were similar population increases, the labour force and employment among females has increased more than among males.
Class of Worker and Industry (October 2023 vs September 2023, seasonally adjusted)
The October 2023 employment change reflected an increase in private sector workers (+11,800 or +3.7%), offset by decreases in public sector workers (-600 or -0.5%) and self-employed (-3,000 or -5.1%).
Classified by industry, the largest employment gains from September to October were in information/culture/recreation, health care and social assistance (including daycare), construction, forestry/fishing/mining and wholesale/retail trade. The largest declines in the month were in business support and call centres, agriculture, professional/technical and manufacturing.
Class of Worker and Industry (October 2023 vs October 2022, seasonally adjusted)
Compared to October 2022, there were gains in employment for private sector workers (+19,700 or +6.4%) and self-employed (+500 or +0.9%). Public sector employment declined over the past year (-4,000 or -3.2%).
Over the last 12 months, employment was up in most sectors with the largest gains in wholesale/retail trade, information/culture/recreation, and transportation/warehousing. There were notable employment declines in health care and social assistance (including daycare), construction, utilities and forestry/fishing/mining.
Class of Worker and Industry (January-October 2023 vs January-October 2022, seasonally adjusted)
The average employment levels for January-October 2023 compared to January-October 2022 increased for the private sector (+15,200 or +5.0%) and the self-employed (+300 or +0.5%) but declined for the public sector (-2,400 or -2.0%). Average employment gains were largest for wholesale/retail, information/culture/recreation, and personal/repair services. Employment was down in most goods industries (except manufacturing) along with business support and call centres as well as health and social (including daycares).
Hours worked and employment (October 2023, unadjusted)
Compared to the provincial average, a larger share of workers in agriculture, forestry/fishing/mining, construction, manufacturing, transportation, business support including call centres, and personal/repair services worked more than 40 hours per week in October 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, October 2023 vs October 2022)
Average weekly earnings increased by 5.6% from October 2022 to October 2023. The fastest gain in average weekly earnings was in agriculture with an atypically low level in October 2022 ($645.48 per week) and atypically high value in October 2023 ($1,479.81). Average weekly wages were also up substantially in accommodation/food services, manufacturing and finance/insurance/real estate. The largest declines in average weekly wages were in information/culture/recreation.
The increase in Nova Scotia's all items consumer price index was 4.8% from September 2022 to September 2023.
Average weekly earnings across all employees were $1,087.92 in October 2023. The highest average weekly earnings (both full and part time employees) were reported in forestry/fishing/mining, public administration, professional/technical services, and utilities. The lowest average weekly earnings were in accommodation/food services, business support services, and wholesale/retail trade.
Average weekly earnings (unadjusted, both full time and part time, January-October 2023 vs January-October 2022)
Average weekly earnings for the first nine months of the year were 4.8% higher than the same months last year. Agriculture, wholesale/retail, manufacturing and accommodation/food services reported the fastest growth. Average wages in personal/repair services and utilities reported declines.
Average weekly earnings for the first nine months of the year were highest in forestry/fishing/mining, utilities, professional/technical services and public administration. Accommodations/food services, business support/call centres, and wholesale/retail workers reported the lowest average weekly earnings.
Regions (October 2023 vs October 2022, unadjusted 3 month moving average)
Compared with October 2022, the labour force and employment increase was concentrated in Halifax. Southern also reported increase in both labour force and employment compared to October 2022. Annapolis Valley reported an increase in labour force and a decline in employment, while for North Shore the labour force decreased and employment grew. Cape Breton labour force was unchanged while employment in the region decreased.
Unemployment rates declined for North Shore and Southern, and increased for Cape Breton, Annapolis Valley and Halifax. The employment rate increased for North Shore and Southern. The participation rate was up in Southern Nova Scotia.
Regions (January-October 2023 vs January-October 2022, unadjusted 3 month moving average)
For the first ten months of 2023, Cape Breton was the only region with declines in both labour force and employment. Increases in employment and labour force were concentrated in Halifax. North Shore reported a decrease in labour force while employment grew. Employment was up more than the labour force in Annapolis Valley and Southern compared to January-October 2022.
Provincial Comparisons (seasonally adjusted)
Canada's labour force grew by 0.3% from September to October while Nova Scotia's labour force was up 1.4%. The largest increase among the provinces was in Alberta, while Prince Edward Island, Quebec, and British Columbia reported labour force declines.
Compared with October 2022, national labour force was up 3.1% (+3.0% in Nova Scotia). The fastest increase was in Prince Edward Island while the slowest growth was in Newfoundland and Labrador.
Canada's employment was up 17,500 (+0.1%) from September to October with gains in five provinces. Nova Scotia reported the fastest gain while the largest decline was in Quebec. Compared with October 2022, Nova Scotia's employment was up 3.3%, faster than the national gain of 2.5%. The largest increase was in Prince Edward Island while the slowest growth was in Newfoundland and Labrador.
The national unemployment rate was 5.7% in October 2023, up 0.2 percentage points from September, and up from 5.2% in October 2022. Saskatchewan had the lowest unemployment rate while Newfoundland and Labrador reported the highest unemployment rate.
The national participation rate was 65.6% in October 2023. The highest participation rate was in Alberta while the lowest was in Newfoundland and Labrador.
The national employment rate was 61.9% in October 2023. Alberta reported the highest employment rate while Newfoundland and Labrador reported the lowest.
Census Metropolitan Areas (October 2023, seasonally adjusted 3 month moving average)
The Halifax unemployment rate was 6.2% in the seasonally adjusted October 2023 three month moving average. While outside of Halifax the unemployment rate was 7.6%. 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 67.9% in the seasonally adjusted October 2023 three month moving average while participation rates were 55.3% across the rest of the province.
Halifax reported an employment rate of 63.7% in the seasonally adjusted October 2023 three month moving average while the employment rate was 51.1% 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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