Labour market report, January 2024

Quick facts

In January 2024:

• There were 13.1 million people in Ontario aged 15 years or older
  • 8.5 million (64.8%) were in the labour force. The labour force increased by 17,700 (0.2%) in January compared to December.
  • 7.9 million (60.8%) were employed, up by 23,800 (0.3%) from December.
• Ontario's unemployment rate decreased to 6.2% in January from 6.3% in December and 522,300 people were unemployed, down by 6,200 (-1.2%) from December.

Employment increased in January

Employment in Ontario increased by 23,800 in January (0.3%), after decreasing by 48,000 (-0.6%) in December. A total of 7,937,700 people were employed in Ontario in January.

Employment in Canada increased by 37,300 in January (0.2%), after little change in December (100 or 0.0%). A total of 20,362,200 people were employed in Canada in January.

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

Full-time vs. part-time

Part-time employment increased by 62,200 (4.6%) in January, while full-time employment decreased by 38,400 (-0.6%).

Employment change by sex and age

Employment increased by 24,400 (0.6%) for men in January, after decreasing by 37,900 (-0.9%) in December. Total male employment was 4,179,600 in January. Employment for women was little changed in January (-500 or 0.0%), after decreasing by 10,100 (-0.3%) in December. Total female employment was 3,758,200 in January.

Youth (aged 15 to 24) employment decreased by 3,400 (-0.3%) in January to 1,011,200, after decreasing by 3,700 (-0.4%) in December. Employment for people aged 25 to 54 was little changed in January (-2,400 or 0.0%) for a total of 5,181,800, after decreasing by 30,100 (-0.6%) in December. Employment for those aged 55 and older increased by 29,200 (1.7%) to 1,744,800 in January, after decreasing by 14,200 (-0.8%) in December.

Employment change by industry

Ontario’s largest industry groups by employment in January were wholesale and retail trade (1,105,300 or 13.9% of total employment), health care and social assistance (968,100 or 12.2%), professional, scientific and technical services (865,000 or 10.9%), manufacturing (808,500 or 10.2%) and finance, insurance, real estate, rental and leasing (676,300 or 8.5%).

Eight of the sixteen major industry groups recorded job gains in January. Wholesale and retail trade (21,400 or 2.0%), finance, insurance, real estate, rental and leasing (17,100 or 2.6%), educational services (13,000 or 2.3%) and business, building and other support services (12,400 or 4.5%) led job gains.

Notable employment losses occurred in accommodation and food services (-19,900 or -4.7%), transportation and warehousing (-6,700 or -1.6%) and other services (except public administration) (-6,500 or -2.2%) in January.

Chart 2 shows industries by employment change in Ontario, December 2023 to January 2024.

Employment change by occupation

Ontario’s largest occupational groups by employment in January were sales and service (1,598,700 or 20.4% of total employment), business, finance and administration (1,329,400 or 17.0%), trades, transport and equipment operators (1,049,600 or 13.4%) and occupations in education, law and social, community and government services (932,200 or 11.9%).

Six of the ten major occupational groups in Ontario had net employment gains in January 2024 when compared to January 2023. Management occupations (130,700 or 16.6%) led job gains, followed by natural resources, agriculture and related production occupations (19,300 or 28.4%), business, finance and administration occupations (9,900 or 0.8%) and occupations in art, culture, recreation and sport (8,700 or 4.0%).

Notable employment losses were recorded in health occupations (-51,300 or -8.5%) and trades, transport and equipment operators and related occupations (-32,200 or -3.0%).

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

Employment change in urban centres

In January 2024, employment in eight of the sixteen Ontario Census Metropolitan Areas (CMAs) was above their January 2023 level, led by Toronto (88,500 or 2.5%) and followed by Ottawa-Gatineau (32,200 or 3.9%), London (15,000 or 5.0%) and Peterborough (8,300 or 13.3%).

Notable employment losses in January were recorded in Belleville (-14,500 or -25.3%), Barrie (-12,200 or -9.0%) and Windsor (-2,700 or -1.4%).

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

Unemployment rate decreased to 6.2%

Ontario’s unemployment rate decreased to 6.2% in January from 6.3% in December. The provincial unemployment rate has increased significantly since falling to a near-record low in April 2023 (5.1%).

The Canadian unemployment rate decreased to 5.7% in January from 5.8% in December. The national unemployment fell for the first time since December 2022.

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

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

The unemployment rate for women remained at 6.0% in January. The rate for men was 6.3% in January, down from 6.5% in December.

For youth aged 15 to 24, the unemployment rate fell to 12.5% in January from 13.5% in December. The unemployment rate for individuals aged 25 to 54 increased to 5.5% in January from 5.2% in December. The unemployment rate for those aged 55 and older decreased to 4.1% in January from 4.7% in December.

In Ontario, the unemployment rate among population groups designated as visible minorities was estimated at 7.4% in January compared to a 4.8% 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).

In Ontario, the unemployment rate for the Indigenous population was estimated at 8.4% in January compared to a 5.7% rate for the non-Indigenous population. The unemployment rate for the Indigenous population includes the rate for First Nations people living off reserve (9.0%) and individuals who identify as Métis (7.4%) (data are three-month moving averages and are not adjusted for seasonality).

Unemployment rate by urban centre

In January, the average unemployment rate decreased from December in six of the sixteen Ontario Census Metropolitan Areas (CMAs). The largest decreases were seen in Guelph (5.4% in December to 4.3% in January), Oshawa (6.9% to 6.0%) and Windsor (7.9% to 7.2%).

Eight CMAs had average unemployment rates that increased in January, led by Brantford (4.3% in December to 4.9% in January), Peterborough (3.7% to 4.2%), Hamilton (5.6% to 6.0%) and Barrie (6.7% to 7.1%).

The average unemployment rate was unchanged in Ottawa-Gatineau (4.6%) and Belleville (4.0%) in January.

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

Long-term unemployment

In January, an estimated 103,700 Ontarians or 19.9% of all unemployed people were unemployed for 27 weeks or longer (long-term unemployed). This compared to 95,200 Ontarians or 18.0% of all unemployed people in December and 75,600 or 17.5% of all unemployed people a year earlier in January 2023.

The average time in unemployment was 18.6 weeks in January, above the average in December (16.2 weeks) and the average in January 2023 (17.3 weeks).

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

Average hourly wages by sex, age and industry

The average hourly wage rate in Ontario for employees was $36.14 in January, above the average rate across Canada ($34.75). Ontario’s average hourly wage rate in January rose by 6.4% on a year-over-year basis (by $2.18 from $33.96 in January 2023) which was slightly below the 6.5% increase in December.

January’s wage growth (6.4%) was well above the growth seen in the Ontario Consumer Price Index (CPI) as of December (3.4%). 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 January 2024.

The average hourly wage rate was $33.76 for women in January, rising by 7.3% ($2.31) from $31.45 in January 2023. For men, the average hourly wage rate was $38.52, an increase of 5.7% ($2.08) from $36.44 a year earlier.

For youth aged 15 to 24, the average hourly wage rate was $21.33 in January, an increase of 7.2% ($1.44) from $19.89 in January 2023. The average hourly wage rate for individuals aged 25 to 54 rose to $38.86 in January, up 6.7% ($2.43) from $36.43 a year earlier. The average hourly wage rate for those aged 55 and older increased by 3.1% ($1.11) to $37.21 in January from $36.10 a year earlier.

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

1. Transportation and warehousing : +11.4% ($3.36) to $32.81
2. Wholesale and retail trade : +11.1% ($2.84) to $28.46
3. Accommodation and food services: +9.3% ($1.80) to $21.08

Only one industry experienced a decrease in its average hourly wage rate in January compared to a year earlier:

1. Forestry, fishing, mining, quarrying, oil and gas : -7.6% (-$3.52) to $42.99

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

January 2024 Labour Market Report:

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

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