Welcome to WPH’s newest Labour Market Data series! Get information on Hamilton’s labour market and jobs through our Labour Market Snapshot Series 2024.
Check out the monthly infographics to get the real-time information on Hamilton’s labour market. Want more information? Refer below each infographic to get the monthly report!
March 2024
March 2024
In March 2024, the Hamilton CMA – which includes the Burlington and Grimsby areas – saw the population grow by 0.2% to a total of 694,200 persons. This count excludes those that are not of working age, or those below the age of 15. Regional population growth paced that of national – and provincial – growth, at 0.3%. Following was an increase in Hamilton’s labour force, which grew by almost 1%, and boasting an overall labour force of 450,400 persons. Employment among the population increased in March, with an increase of 0.9% to 421,500 employed persons, and an accompanying 0.4% increase in the employment rate to 60.7%. Participation among persons in Hamilton experienced a 0.5%
Unemployment
As the labour force grew, unemployment in the Hamilton CMA increased in tandem by 1.4% to 28,900 unemployed persons. With this said, the unemployment stagnated in March, as it remained at 6.4%. Among the other 47 CMAs across Canada, the Hamilton CMA ranked as the 15th highest. In March, Hamilton’s unemployment rate compared to the provincial, which was only slightly higher at 6.5%. On the other hand, Hamilton had a higher unemployment rate than the national unemployment rate of 5.9%.
Among the age groups, those within the age bracket of 25 to 54 – also known as the core working age group – saw unemployment increase by 8%. Following this were the youth age bracket (15-24 years old), which also saw unemployment increase by 6%. For those over the age of 55, there was a 3% decline in unemployment as individuals entered into retirement. The unemployment rate for the youth group was the highest, with an unemployment rate of 15.3%; increasing 0.9% in March.
Labour Force
Looking at the Hamilton CMA’s labour force over the years; recently in 2023, we see a positive trend between the labour force and population growth. During the periods of March 2020 to March 2021, Hamilton’s labour force dipped significantly as Covid-19 lockdowns made it difficult for travelling and employment in sectors that were client-facing, such as Retail Trade, Food and Accommodation, and Hospitality. Following right after, the labour force increased as lockdowns eased and work-from-home options opened a whole new labour market for industries such as Technical Services, IT, and Finance/Business. Starting in 2023, after years of a tumultuous labour market due to the pandemic, population growth and labour force have increased in tandem.
Industries
The top growing industry in March 2024 for the Hamilton CMA was Finance, Insurance, and Real Estate, which saw their employment increase by 9% over February to March. Following was the Transportation and Warehousing industry which had employment growth of 8%. Specifically, this industry has seen consecutive growth from January, with a total increase of 15% over the two months. Public Administration also had more employed persons in March, with an increase of 4% since February. Similar to Transportation and Warehousing, this industry has experienced consecutive employment growth, with employment expansion of 16% since January.
The top declining industry in March 2024 for the Hamilton CMA was the Business, Building and Other Support Services industry which saw their employment contract by 9%. There has been recent turmoil for his industry as it also saw consecutive losses in employment in February of 10%, totaling to 19% of employment lost since January. Next, Wholesale and Retail Trade lost 6% of employment; and the Construction sector lost 3% in employment.
Occupations
The most in-demand occupation in March 2024 for the Hamilton CMA were Registered Nurses, with 222 job postings and a wage of $42.00/hour. Following were Retail Salespersons with 209 job posts, paying at the provincial minimum wage. Licensed Nurses were also at the top of the list, with 165 job posts and a wage of $30.81/hour. Cooks had 163 job posts come in for March, and Administrative Assistants with 158 job posts.
The top hiring employers in March 2024 for the Hamilton CMA were McMaster University (434 job posts), Hamilton Health Sciences (309 job posts), St. Joseph’s Healthcare Hamilton (272 job posts); Rona (48 job posts); and AgeCare (41 job posts).
Minimum Wage vs. Living Wage
Over the years, minimum wage has increased to compensate for the increases in the Consumer Price Index. At the moment, the minimum wage rate in Ontario sits at $16.55/hour. By October 2024, the minimum wage rate will see an increase of 3.9% to $17.20/hour. Looking at the changes of minimum wage versus living wage over 4 years, Hamilton’s living wage has greatly outpaced minimum mage, with little surprise. Minimum wage in Ontario has increased by an average of 6% from 2021 to 2024, with the most significant increase in 2021 as the pandemic uprooted our economy, and minimum wage increased by around 5-8%. On the other hand, living wage in Hamilton increased by 11% from 2021 to 2022, and by 9% from 2022 to 2023. The new increase of the minimum wage to $17.20/hour would match Hamilton’s living wage rate in 2021.
Past snapshots: