September 06, 2024LABOUR MARKET TRENDS, AUGUST 2024 August labour force survey results reflect the period from August 11 to 17, 2024.
Ages 15+ (August 2024 vs July 2024, seasonally adjusted)
Nova Scotia's seasonally adjusted employment rose by 5,000 (+1.0%) to 513,100 in August following a decline of 4,800 (-0.9%) to 508,100 in the previous month.
The change in employment was attributable to an increase in both part-time (+3,500) and full-time (+1,500) employment. Note that changes in full-time and part-time employment can also reflect changing hours for the same job.
Nova Scotia’s labour force rose 3,900 (+0.7%) to 550,000 in August 2024.
With employment rising faster than labour force, Nova Scotia's unemployment rate fell 0.3 percentage points to 6.7% in August 2024.
Nova Scotia's labour force participation rate rose 0.3 percentage points to 61.5% and the employment rate was up 0.4 percentage points to 57.4% in August 2024.
Ages 15+ (August 2024 vs August 2023, seasonally adjusted)
Compared with August 2023, Nova Scotia's population over the age of 15 increased by 26,300 (+3.0%), while the labour force grew by 20,300 (+3.8%), and employment increased by 20,500 (+4.2%). The unemployment rate declined by 0.3 percentage points while the participation rate rose by 0.5 percentage points and the employment rate rose by 0.6 percentage points.
Ages 15+ (January-August 2024 vs January-August 2023, seasonally adjusted)
Compared with January-August 2023, Nova Scotia's population over the age of 15 increased by 26,800 (+3.1%), while the labour force grew by 20,500 (+3.9%), and employment increased by 18,100 (+3.6%). The unemployment rate was up 0.2 percentage points with the participation rate up 0.5 percentage points and the employment rate up 0.3 percentage points.
Note: Year-to-date estimates are calculated as averages of monthly data and rounded to the nearest tenth. Year-to-date changes in the table are also rounded to the nearest tenth.
Age Cohorts (August 2024 vs July 2024, seasonally adjusted)
Among youth (ages 15-24), employment rose by 1,700 (+2.5%) while the labour force rose by 700 (+0.9%). With a rise in employment that outpaced labour force growth, the youth unemployment rate declined 1.3 percentage points to 14.1% in August. The youth participation rate was rose 0.3 percentage points to 65.1% while the youth employment rate was up 1.1 percentage points to 56.0%.
The population aged 25-54 makes up the largest part of the labour force. In the core age group, employment was up 2,500 (+0.8%) while the labour force rose 4,100 (+1.2%). With the labour force rising faster than employment, the core aged unemployment rate rose 0.5 percentage points to 5.6% in August 2024. The core aged participation rate was up 0.8 percentage points to 87.9% and the core aged employment rate was up 0.4 percentage point to 83.0%.
Older workers (aged 55+) reported the labour force declined by 900 (-0.7%) while employment rose by 900 (+0.8%). With employment rising and labour force falling, the older worker unemployment rate declined 1.4 percentage points to 5.1%. The older worker participation rate declined 0.2 percentage points to 32.8% and the employment rate for older workers rose 0.2 percentage points to 31.1%.
Males and Females (Ages 15+, August 2024 vs July 2024, seasonally adjusted)
Monthly employment rose 4,000 (+1.6%) for males while the labour force rose 4,100 (+1.5%). With a similar rise in employment and labour force, the male unemployment rate was unchanged at 8.2% in August. The male participation rate increased 0.8 percentage points to 64.8% and the male employment rate rose 0.7 percentage points to 59.5%.
Females reported an increase in employment of 1,100 (+0.4%) while the labour force declined by 300 (-0.1%). With labour force decline on rising employment, the female unemployment rate declined 0.5 percentage points to 5.2% in August. The female participation rate declined 0.2 percentage points to 58.4% and the female employment rate rose 0.2 percentage points to 55.4%.
August's increase in employment was primarily due to rising employment for youth and core-aged workers and males, with smaller employment increases for older workers and females. Labour force growth was concentrated among core aged workers and males. Lower unemployment for youth and older workers offset the increased unemployment among core-aged workers.
Age and sex cohorts (August 2024 vs August 2023, seasonally adjusted)
Compared with August 2023, employment growth was highest among core aged workers (whose population has also grown the most over this period). Employment gains were similar among youth and older workers. Female employment has increased more than for males when compared to August 2023. Females saw a year-over-year decline in unemployment compared to males.
Age and sex cohorts (January-August 2024 vs January-August 2023, seasonally adjusted)
Compared with January-August 2023, labour force and employment growth was highest among core-aged workers (whose population is also growing more than others). Labour force growth outpaced employment growth for core-aged workers, and, to a lesser extent, youth workers. Older workers saw a larger increase in employment than labour force. Core-aged workers had a larger increase in unemployment compared to youth and older workers as labour force growth outpaced employment growth. Population, labour force, and employment have increased more for males than females compared to January-August 2023.
Class of Worker and Industry (August 2024 vs July 2024, seasonally adjusted)
The August 2024 employment change was due to an increase in private sector employment (+3,500, +1.1%) with a smaller increase in public sector (+1,900, +1.4%). Self-employment declined by 300 (-0.6%).
Classified by industry, the largest employment gains from July to August were in accommodation/food services and health/social. The largest decline was in professional/technical services, followed by personal/repair services.
Class of Worker and Industry (August 2024 vs August 2023, seasonally adjusted)
Compared to August 2023, there were employment gains for public sector workers (+18,700 or +15.8%), and private sector workers (+7,800 or +2.5%), with a decline in self-employed (-5,900 or -10.4%).
Over the last 12 months, employment was up the most for public administration, accommodation/food services and health/social. The largest declines were in manufacturing, agriculture, and professional/technical services.
Class of Worker and Industry (January-August 2024 vs January-August 2023, seasonally adjusted)
Compared to January-August 2023, gains were strongest for public sector workers (+13,200 or +11.0%) followed by private sector workers (+10,900 or +3.4%). The number of self employed declined (-5,900 or -10.2%) in January-August 2024.
Gains in employment was strongest in education, public administration and accommodation/food services and the largest declines were in professional/technical services and agriculture for the first eight months of 2024.
Hours worked and employment (August 2024, unadjusted)
Compared to the provincial average, a larger share of workers in goods producing industries (exception: utilities) as well as transportation/warehousing and business support/call centres worked more than 40 hours per week in August 2024.
Note that some data on those working few hours in utilities, forestry/fishing/mining and agriculture were suppressed.
Average weekly earnings (unadjusted, both full time and part time, August 2024 vs August 2023)
Average weekly earnings increased by 7.4% from August 2023 to August 2024. The fastest gains in average weekly earnings were in business/support/call centres. The largest declines in average weekly wages were in forestry/fishing/mining and information/culture/recreation.
The increase in Nova Scotia's all items consumer price index was 2.3% from July 2023 to July 2024.
Average weekly earnings across all employees were $1,156.71 in August 2024. 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, wholesale/retail trade and agriculture.
Average weekly earnings (unadjusted, both full time and part time, January-August 2024 vs January-August 2023)
Average weekly earnings increased 6.7% in the first eight months of 2024 compared to the same period of 2023. The fastest gains in average weekly earnings were in utilities, manufacturing, professional/technical services, and personal/repair services. Forestry/fishing/mining and agriculture registered the fastest declines in average weekly earnings in January-August 2024.
Average weekly earnings in the first eight months of 2024 were highest in utilities, professional/technical services, public administration and forestry/fishing/mining. The lowest average weekly earnings were in accommodation/food services, wholesale/retail trade and business support services (including call centres) in January-August 2024.
Regions (August 2024 vs August 2023, unadjusted 3 month moving average)
Compared with August 2023, labour force and employment increases were concentrated in Halifax. Cape Breton reported slightly faster growth in employment than labour force, resulting in lower unemployment compared to one year ago. The North Shore saw labour force drop faster than employment. North Shore had notable growth in persons not in the labour force. Annapolis Valley reported growth in labour force and a smaller increase in employment, leading to increases in unemployment and persons not in the labour force. Southern Nova Scotia reported declining employment and labour force, resulting in higher unemployment and persons not in the labour force.
Unemployment rates were up in Annapolis Valley and Southern Nova Scotia while they declined in Cape Breton, North Shore and Halifax regions compared to one year ago.
Participation rates rose in Cape Breton, Annapolis Valley and Halifax, and declined in North Shore and Southern Nova Scotia regions.
Employment rates were up in Cape Breton and Halifax and declined in all other regions.
Regions (January-August 2024 vs January-August 2023, unadjusted 3 month moving average)
Compared with the first eight months of 2023, all regions except Southern Nova Scotia reported higher labour force and higher employment. Labour force gains outpaced employment growth for Cape Breton, Halifax and Annapolis Valley regions, resulting in higher unemployment. North Shore reported slightly faster growth in employment than labour force.
Provincial Comparisons (seasonally adjusted)
Canada's labour force rose 0.4% from July with seven provinces reporting growth in August 2024. Alberta reported the largest growth, followed by Manitoba and Nova Scotia. The largest decline was in Saskatchewan.
Compared with August 2023, the national labour force was up 2.8%. Alberta and Nova Scotia reported the fastest increase while slowest growth was in Québec.
Canada's employment was up 0.1% from July to August. Six provinces reported higher employment in August, led by Nova Scotia and Prince Edward Island. Compared with August 2023, Nova Scotia's employment was up 4.2%, the fastest reported growth among provinces. The national gain was 1.6% with the slowest growth in Québec over this period.
The national unemployment rate was 6.6% in August 2024, up from 5.5% in August 2023. Saskatchewan had the lowest unemployment rate while Newfoundland and Labrador reported the highest unemployment rate in August 2024.
The national participation rate was 65.1% in August 2024. The highest participation rate was in Alberta while the lowest was in Newfoundland and Labrador.
The national employment rate was 60.8% in August 2024. Alberta reported the highest employment rate while Newfoundland and Labrador reported the lowest.
Census Metropolitan Areas (August 2024, seasonally adjusted 3 month moving average)
The Halifax unemployment rate was 5.7% in the seasonally adjusted August 2024 three month moving average. Outside of Halifax the unemployment rate was 8.0%. 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 68.6% in the seasonally adjusted August 2024 three month moving average, while participation rates were 54.9% across the rest of the province.
Halifax reported an employment rate of 64.7% in the seasonally adjusted August 2024 three month moving average, while the employment rate was 50.5% 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)