Over the last three months, Hamilton’s unemployment rate has been trending downwards while Ontario’s is trending upwards. In January, Hamilton’s unemployment rate fell to 6.8% (1.2%) while it was 10.2% for Ontario as a whole.
In January employment in Hamilton increased by 6,700 jobs and the labour force also grew by 2,000 people as people entered the labour market to look for jobs. In Ontario, we saw the opposite trend with there being 153,000 (-2.1%) job losses, and the vast majority were part-time jobs.
Please note: Hamilton data is a three-month moving average while Ontario data is monthly seasonally adjusted data. This may explain some of the discrepancy between the two figures, but the overall movement of the unemployment rates going in opposite direction is still valid trend that needs to be further investigated.
Industries With the Most Job Gains (Source: Labour Force Survey)
Monthly Change (Dec to Jan)
Health care and social assistance 4,500 jobs
Finance, insurance, real estate, rental and leasing 1,700
Business, building and other support services 1,100
Industries with the Most Job Losses (Source: Labour Force Survey)
Monthly Change (Dec to Jan)
Manufacturing - 3,500 jobs
Construction - 800
Public administration - 600
Manufacturing led the job losses in Hamilton in January, after being a sector that was growing throughout the pandemic. In Ontario it was Retail trade that had the most job losses.
Younger people led with the most job loses…
The following data is only for Ontario as monthly demographics information is not available in Hamilton. We can see that most of the job losses across Ontario came from the youngest age cohort.