The public administration sector continued to shed jobs in February, with the unemployment rate in the National Capital Region reaching 6.5%, a climb of 0.6 percentage points from last quarter. The public administration sector, which includes federal government employees, saw its employment numbers drop to 140,400. That is a decrease from 154,800 in February 2013.
However, the sector that includes high-tech workers has continued to improve with 61,700 people now working in information and communication technology as of February, which is up from 42,400 a year ago.
In its latest metropolitan release, the Conference Board of Canada reports that the region’s economy certainly suffered in 2013 with GDP growth of only 0.3%. Although more job cuts are expected in the public administration sector, the rate of decline will be much slower, and coupled with strong non-residential construction activity, GDP growth is expected to accelerate to 1.4% in 2014.
Source : Cushman & Wakefield