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October Laval jobless rate dips to 3.9%

Article mis en ligne le 19 novembre 2007 à 15:29
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October Laval jobless rate dips to 3.9%
Laval is well on its way to continuing the positive job market trend set last spring, registering an unemployment rate of 3.9% for October. This low rate is considered the equivalent of zero unemployment since economists set that rate at 4%, due to fluctuations in seasonal employment, job transference and mobility within the labour force, all of which temporarily puts some people out of work.
At this level of job market performance, the city-region consolidates its gaudy domination of the 16 economic regions into which Quebec is divided. The October unemployment rates point to Quebec City as runner-up to Laval among the 16 regions, registering a rate of 4.3%
Neighbouring regions
In Montreal, the unemployment rate is at 8.2%, more than double that of Laval.
Faring even worse is Lanaudière at 8.4%, putting the region next to last in job market performance, ahead only of the chronically high-unemployment region of Gaspèsie/Îles-de-la-Madeleine whose October rate was at 13.4%.

Two other neighbouring regions, Laurentides and Montérégie showed jobless rates of 5.9 % and 6.2%.

In the Greater Montreal Region, the October jobless rate averages out to 7%, just slightly higher than the provincial rate at 6.6%.
Positive trend
With the October dip, Laval now boasts six months of economic prosperity, if the unemployment rate is used as the indicator. Hovering around the 4% zero (full employment) unemployment rate, the city-region's rates since last spring register at 4.4% for May, 3.9% for June, 4.3% for July, 4.2% for August, and 4.0% for September.
The May-October jobless rate averages out to 4.16%, tantalizingly close to the 4%

rate considered full employment.

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