This remains historically low and near the rate that was recorded in August 2023 (8.0%), which was the lowest monthly unemployment rate recorded since consistent records began in 1976.Įmployment gains were reported in full-time employment, while declines were reported in part-time employment in October 2023. The unemployment rate decreased by 0.5 percentage points to 8.9% in October 2023 when compared to October 2022. The level of unemployment decreased by 1,300 persons, or 5.3%, in October 2023 compared with October 2022. The source population increased by 7,400 persons, or 1.6%, and the participation rate decreased by 0.7 percentage points to 57.7%. The labour force in Newfoundland and Labrador increased by 1,200 persons, or 0.5%, in October 2023 compared with October 2022, due to an increase in the source population, which more than offset a decline in the participation rate. Actual hours worked increased by 2.1% compared to October 2022. Newfoundland and Labrador Statistics Agency (NLSA)Įmployment in Newfoundland and Labrador was 240,500 persons in October 2023, up by 2,500 persons, or 1.1%, from October 2022.Treasury Management and Budgeting Branch.Policy, Planning, Accountability and Information Management Division.The Newfoundland and Labrador Child Benefit (NLCB) and Pre-natal Infant Nutrition Supplement (PINS).NL Income Supplement and the NL Seniors’ Benefit.Credits, Benefits, Incentives and Rebates.Transitional Rules for the Newfoundland and Labrador HST Rate Increase.Frequently Asked QuestionsRetail Sales Tax on Insurance Premiums.Labour-Sponsored Venture Capital Tax Credit.
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