P.E.I. unemployment rate falls for 1st time in 10 months
P.E.I.'s unemployment rate is down 0.8 per cent in August, marking the first decrease since last October, according Statistics Canada's monthly labour force survey.
In July, unemployment hit 11.6 per cent — the highest rate since May 2014 when it reached 12.2 per cent, then subsequently fell below 10 per cent for five consecutive months before beginning an upward climb.
That means August's jobless rate drop to 10.8 per cent was the first decrease in 10 months.
New jobs weren't created, however. The number of Islanders working remains unchanged at 72,200 with 800 fewer people seeking work.
The number of full-time jobs dropped from approximately 59,700 to 59,500 while the number of part-time jobs increased from 12,500 to 12,600.
Meanwhile, the province's employment rate stayed virtually the same, down only 0.1 per cent from July's 59.7 per cent.
The Minister of Workforce and Advanced Learning says one of the priorities of the department is to provide programs to help Islanders improve their skills and gain employment.
"We've been meeting with companies through Prince Edward Island to see what their labour needs are and what their requirements are," said Richard Brown.
"Employers are telling us that it is becoming more difficult to recruit and retain workers, while at the same time we know that there are many Islanders seeking employment. And we think there is a gap between the employer and the employees."
Nationally, 112,000 jobs were added August, but the unemployment rate rose to seven per cent as 40,000 more people looked for work.
