The Timmins, Cochrane & Timiskaming Districts Association of REALTORS®

Ontario Employment Trends

The unemployment rate in Ontario was 6% as of October 2023, up 0.2% from the previous month. The unemployment rate stood 6.8% below the peak from June 2020 and is below the long-run average.

There were 800 more full-time jobs in October 2023 compared to a month earlier. A loss of 2,000 part-time positions led to a decrease of 1,200 total jobs in October.

Full-time employment has recovered since reaching a bottom in May 2023 and now stands at a record high.

The number of full-time jobs in October was up from the previous month in agriculture, transportation & warehousing, professional & scientific services, business & building services, education, and public administration.

Full-time job losses in October occurred in natural resources, utilities, construction, manufacturing, trade services, the financial sector, healthcare, information & cultural services, and accommodation & food services.

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

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