As of November 2007, the labour market in Canada remains tight. Every national indicator is strong. This includes a 67.8% participation rate (i.e., those in the labour force as a percent of the working-age population aged 15 and older), a 63.8% employment rate (i.e., those employed as a percent of the working-age population), a +2.7% year-over-year gain in employment (the highest in this cycle) and a 5.9% unemployment rate (among the lowest in more than 30 years).

Jobs in Five Provinces Growing Faster than National Rate
As for the +2.7% year-over-year employment gain, five provinces are experiencing increases faster than the national rate. Furthermore, they are not all in the West, as was the case earlier in this cycle. The five provinces are: New Brunswick (+4.7%); British Columbia (+4.0%); Alberta (+3.0%); and Québec and Manitoba (both +2.9%). With respect to the overall labour environment, Alberta leads all provinces with the highest employment rate (71.2%) and the lowest unemployment rate (3.6%).

Eastern Cities Move Up the Ranking of Employment Gains
As for what is happening in Canada’s major cities, there have been some interesting shifts. Eight of the top ten cities in terms of year-over-year employment growth are now in eastern Canada. The leader is Saint John, New Brunswick, followed by Trois-Rivières, Québec in second place and Ottawa-Gatineau in fourth. In terms of cities with the lowest unemployment rates, however, the West still rules. The first seven cities in the ranking of lowest unemployment rates are in western Canada, with Victoria (only 2.8%) claiming the number one spot.

The good employment numbers, combined with a +4.2% annual increase in average hourly wages, mean a level of income growth that is quite supportive of continuing strong economic activity levels in the country as a whole.