16 Mar Statistics Canada Shows Nova Scotia Employment Growing While Unemployment Declines
Nova Scotia’s economy has continued to flourish, according to Statistics Canada.
Employment has reached a new high of 466,500 February 2019, following eight consecutive months of growth. Year over year job growth has become the new trend, and unemployment is at the lowest recorded level in Nova Scotian history.
Modern labour force surveys began in 1976, and are a good indicator of economic health. Since February 2018, the unemployment rate fell 1.5 per cent, to the unprecedented 6.4 per cent level we are seeing now.
“Create jobs and opportunities to benefit all Nova Scotians”
In that same timespan, employment grew by 1,080 and the labour force grew by 3,900.
“We are working to create an environment that allows the private sector to create jobs and opportunities to benefit all Nova Scotians,” said Finance and Treasury Board Minister Karen Casey. “As a province we are seeing more employment opportunities in each of the last eight months.”
The growth trend is most visible in youth aged 15 to 24. Since February 2018, the youth labour force is up 5,100, with youth employment increasing in that same timespan by 7,400. Youth unemployment dropped an incredible 4.4 percentage points in the past year, and now sits at 14.2 per cent.
For more information visit https://novascotia.ca/finance/statistics/default.asp .