Employment levels up, but local economy won't get back to normal 'for a long time', report suggests

COVID-19 has rocked the economy, and the Sault's businesses have not been immune to to financial impacts caused by lockdown measures.

Many people have lost their jobs or been laid off. 

However, the latest unemployment numbers as reported by the Algoma Workforce Investment Corporation (AWIC) prove hopeful.

The report suggests the Sault's unemployment rate has improved over the last two months. In March, the rate was sitting at 5.1 per cent, and it climbed significantly due to the ongoing pandemic.

The national and provincial unemployment rates also spiked due to COVID-19, but rates have dropped since reaching their peaks in May.

The Sault's unemployment rate rose to a high of 11.1 per cent in July before dropping to 9.5 per cent in September, the same as the provincial rate, while the national rate was 9 per cent.

Although the unemployment rates are falling, AWIC warns that as the CERB program winds down this fall there could be "another jump in unemployment as more people begin actively looking for work."

Meanwhile, the employment rate has rebounded from a low of 49.2 per cent in May 2020. However, AWIC notes that the national and provincial rates are still lower than previous norms.

Sault Ste. Marie's employment rate in September 2020 was 60.7 per cent, sitting higher than the national rate of 59.1 per cent and the provincial rate of 58.3 per cent.

AWIC states in their report that while "the increases in employment levels are a good sign, it should be remembered that a lot of the gains are hiring back of people who were affected by previous closures."

* Sault Ste. Marie’s monthly Labour Force Survey estimates are based on a sample of the working age population (the population 15 years and above). For example, the results in a typical month would be based on the survey completions of 205 households and these would be extrapolated for the entire working population of 66,500.