2014 Labour Trends: A Year in Review
Below is a summary of the labour trends of 2014 as outlined by Statistics Canada.
In 2014, employment increased by 121,000 or 0.7% with more of the overall growth being accounted for during the September and October of this past year. The growth experienced in 2014 matches that of 2013, as both years saw a growth rate of 0.7%. However, the past two years are below the 1.8% rate of growth seen in 2012.
In a comparison from December of 2013, full-time employment and part-time employment has changed, although full-time increased by 1.1% whereas part-time employment saw little change. Overall, the number of hours worked from December 2013 to December 2014 increased by over 0.6%.
Employment growth in 2014 was concentrated on men aged 25 and older. Employment among men 25 to 54, mostly in full-time work, was up 1.2% (75,000 people) from December 2013 to December 2014. Employment growth in the year was concentrated among men aged 25 and older. The rate of unemployment fell to its lowest since October 2008, dropping 0.9 percentage points to 5.6%.
From a provincial standpoint, employment grew in the western provinces of Alberta, Manitoba, Saskatchewan and in Ontario. However, employment declined on the east coast in Newfoundland and Labrador as well as in New Brunswick.
In 2014, employment in the fields of health care, social assistance, construction and educational services went up. Health care and social assistance increased by 54,000 people (2.4%) and construction increased by 39,000 people (2.9%). Education had the highest increase percentage going up by 37,000 people (3.1%).
From January to December of 2014, the unemployment rate decreased 0.5 percentage points to end at a 6.7% for the year.
Adjusted to US concepts, the unemployment rate in Canada was 5.7% in December 2014, and the US rate was 5.6%. In the 12 months to December, the unemployment rate in Canada declined by 0.4 percentage points, while the rate in the United States fell by 1.1 percentage points.
In December, the employment rate in Canada, adjusted to US concepts, was 61.9%, compared with 59.2% in the United States. Compared with a year earlier, the employment rate declined by 0.2 percentage points in Canada, while it increased by 0.6 percentage points in the United States.
Source: Statistics Canada