Labour market report, March 2024

Quick facts

In March 2024:

• There were 13.1 million people in Ontario aged 15 years or older
  • 8.5 million (65.0%) were in the labour force. The labour force increased by 47,900 (0.6%) in March compared to February.
  • 8.0 million (60.7%) were employed, up by 26,100 (0.3%) from February.
• Ontario's unemployment rate increased to 6.7% in March from 6.5% in February and 575,800 people were unemployed, up by 21,800 (3.9%) from February.

Employment increased in March

Employment in Ontario increased by 26,100 in March (0.3%), after little change in February (6,700 or 0.1%). A total of 7,970,500 people were employed in Ontario in March.

Employment in Canada was little changed in March (-2,200 or 0.0%), after increasing by 40,700 in February (0.2%). A total of 20,400,700 people were employed in Canada in March.

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

Full-time vs. part-time

Part-time employment increased by 27,500 (2.0%) in March, while full-time employment decreased by 1,400 (-0.0%).

Employment change by sex and age

Employment for men increased by 3,200 (0.1%) in March, after little change in February (-500 or -0.0%). Total male employment was 4,182,300 in March. Employment for women increased by 22,900 (0.6%) in March, after increasing by 7,100 (0.2%) in February. Total female employment was 3,788,200 in March.

Youth (aged 15 to 24) employment decreased by 5,600 (-0.6%) in March for a total of 1,005,200, after little change in February (-400 or 0.0%). Employment for people aged 25 to 54 increased by 31,400 (0.6%) to 5,241,500 in March, after increasing by 28,300 (0.5%) in February. Employment for those aged 55 and older increased by 300 (0.0%) to 1,723,500 in March, after decreasing by 21,300 (-1.2%) in February.

Employment change by industry

Ontario’s largest industry groups by employment in March were wholesale and retail trade (1,091,100 or 13.7% of total employment), health care and social assistance (984,600 or 12.4%), professional, scientific and technical services (865,900 or 10.9%), manufacturing (814,700 or 10.2%) and finance, insurance, real estate, rental and leasing (679,200 or 8.5%).

Health care and social assistance (14,700 or 1.5%), transportation and warehousing (12,600 or 3.1%), construction (11,400 or 2.0%) and manufacturing (7,100 or 0.9%) led job gains in March.

Notable employment losses occurred in accommodation and food services (-12,700 or -3.0%), other services (except public administration) (-10,000 or -3.4%) and agriculture (-3,500 or -4.6%) in March.

Chart 2 shows industries by employment change in Ontario, February 2024 to March 2024.

Employment change by occupation

Ontario’s largest occupational groups by employment in March were sales and service (1,607,800 or 20.4% of total employment), business, finance and administration (1,322,100 or 16.7%), trades, transport and equipment operators (1,075,100 or 13.6%) and occupations in education, law and social, community and government services (946,100 or 12.0%).

Six of the ten major occupational groups in Ontario had net employment gains in the first three months of 2024 when compared to the same period in 2023. Management occupations (114,700 or 14.4%) led job gains, followed by natural and applied sciences and related occupations (32,500 or 4.3%) and occupations in education, law and social, community and government services (21,300 or 2.3%).

Notable employment losses were recorded in sales and service occupations (-48,700 or -3.0%) and health occupations (-32,400 or -5.4%).

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

Employment change in urban centres

In March 2024, employment in nine of the sixteen Ontario Census Metropolitan Areas (CMAs) was above their March 2023 level, led by Toronto (38,300 or 1.1%) and followed by Ottawa-Gatineau (34,000 or 4.2%), Kitchener-Cambridge-Waterloo (17,400 or 5.2%) and London (13,700 or 4.6%).

Notable employment losses in March were recorded in Belleville (-24,600 or -38.6%), Barrie (-12,100 or -8.8%) and St. Catharines-Niagara (-7,700 or -3.5%).

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

Unemployment rate increased to 6.7%

Ontario’s unemployment rate increased to 6.7% in March from 6.5% in February. This was the second consecutive month where the unemployment rate increased. The provincial unemployment rate has increased significantly since falling to a near-record low in April 2023 (5.1%).

The Canadian unemployment rate increased to 6.1% in March from 5.8% in February.

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

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

The unemployment rate for women remained at 6.2%. The rate for men was 7.2% in March, up from 6.8% in February.

For youth aged 15 to 24, the unemployment rate rose to 15.7% in March from 14.1% in February. The unemployment rate for individuals aged 25 to 54 remained at 5.6% in March. The unemployment rate for those aged 55 and older decreased to 4.2% in March from 4.3% in February.

In Ontario, the unemployment rate among population groups designated as visible minorities was estimated at 8.5% in March compared to a 5.5% 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 9.7% in March compared to a 6.6% rate for the non-Indigenous population. The unemployment rate for the Indigenous population includes the rate for First Nations people living off reserve (9.2%) and individuals who identify as Métis (8.4%) (data are three-month moving averages and are not adjusted for seasonality).

Unemployment rate by urban centre

In March, the average unemployment rate increased from February in eight of the sixteen Ontario Census Metropolitan Areas (CMAs). The largest increases were seen in Thunder Bay (3.9% in February to 4.4% in March), Kingston (6.5% to 7.0%) and London (5.9% to 6.4%).

Six CMAs had average unemployment rates that decreased in March, led by Barrie (7.4% in February to 6.8% in March), Oshawa (5.7% to 5.2%), Greater Sudbury (5.9% to 5.6%) and Belleville (4.7% to 4.4%).

The average unemployment rate was unchanged in Hamilton (6.4%) and Brantford (4.9%) in March.

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

Long-term unemployment

In March, an estimated 122,600 Ontarians or 21.3% of all unemployed people were unemployed for 27 weeks or longer (long-term unemployed). This compared to 122,000 Ontarians or 22.0% of all unemployed people in February and 77,100 or 17.5% of all unemployed people a year earlier in March 2023.

The average time in unemployment was 19.3 weeks in March, below the average in February (20.4 weeks) but above the average in March 2023 (18.6 weeks).

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

Average hourly wages by sex, age and industry

The average hourly wage rate in Ontario for employees was $35.87 in March, above the average rate across Canada ($34.81). Ontario’s average hourly wage rate in March rose by 4.9% on a year-over-year basis (by $1.69 from $34.18 in March 2023) which was below the 6.0% increase in February.

March’s wage growth (4.9%) was well above the growth seen in the Ontario Consumer Price Index (CPI) as of February (2.4%). 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 March 2024.

The average hourly wage rate was $33.38 for women in March, rising by 5.1% ($1.61) from $31.77 in March 2023. For men, the average hourly wage rate was $38.34, an increase of 4.9% ($1.80) from $36.54 a year earlier.

For youth aged 15 to 24, the average hourly wage rate was $20.87 in March, an increase of 3.5% ($0.71) from $20.16 in March 2023. The average hourly wage rate for individuals aged 25 to 54 rose to $38.43 in March, up 3.8% ($1.41) from $37.02 a year earlier. The average hourly wage rate for those aged 55 and older increased by 6.8% ($2.37) to $37.48 in March from $35.11 a year earlier.

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

1. Utilities: +8.5% ($4.14) to $53.05
2. Health care and social assistance: +6.6% ($2.08) to $33.69
3. Other services (except public administration): +6.0% ($1.76) to $30.90

Only three industries experienced a decrease in its average hourly wage rate in March compared to a year earlier:

1. Agriculture: -18.8% (-$5.22) to $22.54
2. Business, building and other support services: -2.8% (-$0.72) to $24.91
3. Forestry, fishing, mining, quarrying, oil and gas: -0.3% (-$0.12) to $47.39

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

March 2024 Labour Market Report:

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

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