Unemployment rate falls as fewer seek work
CBC News
Posted: Oct 5, 2012 11:02 AM AT
Last Updated: Oct 5, 2012 12:25 PM AT
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The unemployment rate on P.E.I. fell half a percentage point in September because fewer people were actively looking for work.
The actual number of jobs in the province fell from August to September, from 72,200 to 72,000. At the same time, however, 700 people left the work force.
The net result was a drop in the unemployment rate from 11.7 to 11.2 per cent.
The Statistics Canada numbers show a volatile job market over the last few months. The unemployment rate fell to 10.2 per cent in July, the lowest since April 2010, on the strength of a big growth in part-time jobs. Those gains evaporated in August, with 1,400 jobs disappearing.
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