Newfoundland and Labrador Association of REALTORS®

Newfoundland Employment Trends

The unemployment rate in Newfoundland and Labrador was 10.3% as of February 2024, unchanged from the previous month. The unemployment rate stood 7.1% below the peak in July 2020 and is below the long-run average.

There were 2,500 more full-time jobs in February 2024 compared to a month earlier. An unchanged number of part-time positions led to an increase of 2,500 total jobs in February.

Full-time employment was still down 3,700 jobs from the peak in January 2013 but stood 38,800 jobs above the trough in June 2020.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.


St. John's Employment Trends

The unemployment rate in St. John's, Newfoundland and Labrador was 6.3% as of February 2024, up 0.2% from the previous month. The unemployment rate stood 7.4% below the peak from July 2020 and is below the long-run average.

There were 1,100 more full-time jobs in February 2024 compared to a month earlier. A gain of 400 part-time positions led to an increase of 1,500 total jobs in February.

Full-time employment was still down 4,900 jobs from the peak in November 2012 but stood 12,300 jobs above the trough in April 2021.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.


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