Labour market report, October 2024

Quick facts

In October 2024:

• There were 13.4 million people in Ontario aged 15 years or older
  • 8.7 million (64.6%) were in the labour force. The labour force decreased by 15,600 (-0.2%) in October compared to September.
  • 8.1 million (60.2%) were employed, little changed (-10,900 or -0.1%) from September.
• Ontario's unemployment rate decreased to 6.8% in October from 6.9% in September and 595,600 people were unemployed, down by 4,700 (-0.8%) from September.

Employment little changed in October

Employment in Ontario was little changed in October (-10,900 or -0.1%), after increasing by 43,200 (0.5%) in September. A total of 8,101,100 people were employed in Ontario in October.

Employment in Canada was little changed in October (14,500 or 0.1%), after increasing by 46,700 (0.2%) in September. A total of 20,596,600 people were employed in Canada in October.

Chart 1 shows employment in Ontario from January 2015 to October 2024.

Full-time vs. part-time

Full-time employment decreased by 11,200 (-0.2%) in October, while part-time employment increased by 400 (0.0%).

Employment change by sex and age

Employment for men decreased by 5,300 (-0.1%) in October, after increasing by 29,400 (0.7%) in September. Total male employment was 4,264,100 in October. Employment for women decreased by 5,500 (-0.1%) in October, after increasing by 13,900 (0.4%) in September. Total female employment was 3,837,100 in October.

Youth (aged 15 to 24) employment increased by 20,900 (2.0%) in October for a total of 1,088,400, after increasing by 32,500 (3.1%) in September. Employment for people aged 25 to 54 decreased by 49,500 (-0.9%) in October to 5,296,400, after increasing by 16,300 (0.3%) in September. Employment for those aged 55 and older increased by 17,600 (1.0%) in October to 1,716,300, after decreasing by 5,400 (-0.3%) in September.

Employment change by industry

Ontario’s largest industry groups by employment in October were wholesale and retail trade (1,107,900 or 13.7% of total employment), health care and social assistance (1,009,800 or 12.5%), professional, scientific and technical services (904,900 or 11.2%), manufacturing (800,600 or 9.9%) and finance, insurance, real estate, rental and leasing (716,000 or 8.8%).

Business, building and other support services (18,700 or 6.6%), construction (7,500 or 1.3%) and wholesale and retail trade (5,800 or 0.5%) led job gains in October.

Notable employment losses occurred in finance, insurance, real estate, rental and leasing (-12,700 or -1.7%), transportation and warehousing (-10,000 or -2.4%) and other services (except public administration) (-5,000 or -1.7%) in October.

Chart 2 shows industries by employment change in Ontario, September 2024 to October 2024.

Employment change by occupation

Ontario’s largest occupational groups by employment in October were sales and service (1,645,200 or 20.3% of total employment), business, finance and administration (1,341,300 or 16.6%), trades, transport and equipment operators (1,141,600 or 14.1%) and occupations in education, law and social, community and government services (949,700 or 11.7%).

Six of the ten major occupational groups in Ontario had net employment gains in the first ten months of 2024 when compared to the same period in 2023. Management occupations (61,700 or 7.5%) led job gains, followed by natural and applied sciences and related occupations (44,400 or 5.9%) and occupations in education, law and social, community and government services (43,800 or 4.9%).

Notable employment losses were recorded in business, finance and administration occupations (-26,400 or -2.0%) and sales and service occupations (-16,300 or -1.0%).

Chart 3 shows occupations by annual employment change in Ontario, October 2023 to October 2024.

Employment change in urban centres

In October 2024, employment in ten of the sixteen Ontario Census Metropolitan Areas (CMAs) was above their October 2023 level, led by Toronto (75,800 or 2.1%) and followed by Kitchener-Waterloo-Cambridge (13,300 or 3.9%), Windsor (8,300 or 4.5%) and Hamilton (7,700 or 1.8%).

Notable employment losses in October were recorded in Belleville (-14,900 or -26.0%), Peterborough (-6,900 or -9.7%) and London (-4,100 or -1.3%).

Chart 4 shows employment change for Ontario Census Metropolitan Areas (CMAs) from October 2023 to October 2024.

Unemployment rate decreased to 6.8%

Ontario’s unemployment rate decreased to 6.8% in October from 6.9% in September. The provincial unemployment rate has increased significantly since falling to a near-record low in April 2023 (5.1%).

The Canadian unemployment rate remained at 6.5% in October. The national unemployment rate has also increased significantly since April 2023 (5.1%).

Chart 5 shows unemployment rates, Ontario and Canada, January 2015 to October 2024.

Unemployment rate by sex, age, visible minority status, immigrant status and Indigenous group

The unemployment rate for women remained at 6.4% in October. The rate for men was 7.2% in October, down from 7.3% in September.

For youth aged 15 to 24, the unemployment rate decreased to 14.0% in October from 15.8% in September. The unemployment rate for individuals aged 25 to 54 rose to 6.1% in October from 5.6% in September. The unemployment rate for those aged 55 and older decreased to 4.3% in October from 4.8% in September.

In Ontario, the unemployment rate among population groups designated as visible minorities was estimated at 9.4% in October compared to a 5.7% rate for those who are not visible minorities and did not identify as Indigenous (data are three-month moving averages and are not adjusted for seasonality).

The unemployment rate for landed immigrants was 7.8% in October compared to a 6.3% rate for the Canadian-born population in Ontario. The unemployment rate for landed immigrants includes the rates for very recent immigrants (i.e., immigrants who landed 5 less years earlier) (11.2%), recent immigrants (i.e., immigrants who landed more than 5 to 10 years earlier) (9.7%) and established immigrants (i.e., immigrants who landed more than 10 years earlier) (6.5%) (data are three-month moving averages and are not adjusted for seasonality).

In Ontario, the unemployment rate for the Indigenous population was estimated at 9.4% in October compared to a 7.1% rate for the non-Indigenous population. The unemployment rate for the Indigenous population includes the rates for First Nations people living off reserve (13.2%) and individuals who identify as Métis (4.4%) (data are three-month moving averages and are not adjusted for seasonality).

Unemployment rate by urban centre

In October, the average unemployment rate decreased from September in seven of the sixteen Ontario Census Metropolitan Areas (CMAs). The largest decreases were seen in Kingston (6.5% in September to 5.8% in October), Brantford (7.0% to 6.5%) and Belleville (3.6% to 3.2%).

Four CMAs had average unemployment rates that increased in October, led by Thunder Bay (4.5% in September to 5.0% in October), Kitchener-Cambridge-Waterloo (7.6% to 7.8%) and Greater Sudbury (5.7% to 5.9%).

The average unemployment rate was unchanged in five CMAs in October.

Chart 6 shows the average unemployment rate for Ontario Census Metropolitan Areas (CMAs) in October 2024.

Long-term unemployment

In October, an estimated 146,500 Ontarians or 24.6% of all unemployed people were unemployed for 27 weeks or longer (long-term unemployed). This compared to 134,500 Ontarians or 22.4% of all unemployed people in September and 94,200 or 18.0% of all unemployed people a year earlier in October 2023.

The average time in unemployment was 22.4 weeks in October, above the average in September (21.4 weeks) and well above the average in October 2023 (18.0 weeks).

Chart 7 shows Ontario’s long-term unemployment (27 weeks or more) as a percentage of total unemployment, January 2015 to October 2024.

Average hourly wages by sex, age and industry

The average hourly wage rate in Ontario for employees was $37.48 in October, above the average rate across Canada ($35.76). Ontario’s average hourly wage rate in October rose by 6.2% on a year-over-year basis (by $2.19 from $35.29 in October 2023) which was above the 5.7% increase in September.

October’s wage growth (6.2%) was well above the growth seen in the Ontario Consumer Price Index (CPI) as of September (1.9%). The CPI is a measure of inflation that represents changes in prices for goods and services as experienced by consumers.

Chart 8 shows the year-over-year percentage change in Ontario’s average hourly wage rate and the Ontario Consumer Price Index (CPI), January 2015 to October 2024.

The average hourly wage rate was $34.59 for women in October, rising by 5.0% ($1.66) from $32.93 in October 2023. For men, the average hourly wage rate was $40.27, an increase of 7.2% ($2.69) from $37.58 a year earlier.

For youth aged 15 to 24, the average hourly wage rate was $21.96 in October, an increase of 6.2% ($1.28) from $20.68 in October 2023. The average hourly wage rate for individuals aged 25 to 54 rose to $40.33 in October, up 5.9% ($2.25) from $38.08 a year earlier. The average hourly wage rate for those aged 55 and older increased by 8.6% ($3.14) to $39.53 in October from $36.39 a year earlier.

In October, the industries with the largest increases in average hourly wage rates compared to a year earlier were:

1. Forestry, fishing, mining, quarrying, oil and gas: +12.5% ($5.41) to $48.75
2. Professional, scientific and technical services: +11.8% ($5.52) to $52.49
3. Information, culture and recreation: +10.2% ($3.35) to $36.19

Only two industries experienced a decrease in their average hourly wage rates in October compared to a year earlier:

1. Agriculture: -3.7% (-$1.00) to $26.00
2. Business, building and other support services: -0.7% (-$0.18) to $27.03

Changes in average hourly wages by industry are the result of multiple factors, including wage growth and shifts in the composition of employment by job tenure and occupation.

Download data

Source: Statistics Canada, Labour Force Survey

October 2024 Labour Market Report:

• CSV, Chart 1, employment in Ontario from January 2015 to October 2024, 1Kb
• CSV, Chart 2, industries with highest and lowest employment change in Ontario, September 2024 to October 2024, 2Kb
• CSV, Chart 3, employment change for occupations in Ontario from October 2023 to October 2024, 2Kb
• CSV, Chart 4, employment change for Ontario Census Metropolitan Areas (CMAs) from September 2024 to October 2024, 2Kb
• CSV, Chart 5, unemployment rates, Ontario and Canada, January 2015 to October 2024, 2Kb
• CSV, Chart 6, average unemployment rates for Ontario Census Metropolitan Areas (CMAs), October 2024, 2Kb
• CSV, Chart 7, Ontario’s long-term unemployed (27 weeks or more) as a percentage of total unemployment, January 2015 to October 2024, 2Kb
• CSV, Chart 8, year-over-year percentage change in Ontario’s average hourly wage rate and the Ontario Consumer Price Index (CPI), January 2015 to October 2024, 2Kb