Nova Scotia’s labour force expanded by 5,300 from 489,200 in July to 494,500 in August (+1.1%). Compared to a year ago, the labour force is 9,500 lower (-1.9%).
Employment continued to grow for the fourth consecutive monthin August. It expanded slightly by 7,200 (+1.6%) in August. Compared to August 2019, employment was 20,400 lower (-4.4%).
The year-to-year employment decline was observed across all age groups, but more for younger workers. Youth (aged 15-24) experienced the highest decline in employment (-8,800, -13.9%). The employment of core-aged workforce (aged 25-54) and older workers decreased by -1.2% and -7.4% respectively.
Accommodation and food services, Education and Construction are the top 3 sectors that experienced employment growth in the last month by 3.3%, 2.5% and 1.7% respectively.
The monthly unemployment rate further dropped from 10.8% in July to 10.3% in August. Compared to August 2019, the unemployment rate was 2.4 percentage points higher.
Nova Scotia’s labour force has been on a four-year upward trend since 2016. It grew by 9,200 (+1.9%) to 502,300 from 2018 to 2019. The employment rates of youth (aged 15-24) and core-aged (aged 25-54) reach their peaks (60.4% and 81.6%) since the inception of the modern Labour Force Survey in 1976. The employment rate of older workers (aged 55 and over) also rests at one of its highest points.
Unemployment rate in Nova Scotia continues to drop, resting at 7.2% in 2019, down from 7.5% in 2018 and 8.4% in 2017.
As the largest population center, Halifax accounts for half of the provincial labour force. Its labour market also outperforms other economic regions’. Cape Breton, on the other hand, continues to fall behind with the highest unemployment rate (13.3% vs provincial average 7.2%) and the lowest employment rate (47.5% vs provincial average 57.7%).