Let’s use a fictional CMA as an example. Sample calculations of Haliburton County, City of Kawartha Lakes, Peterborough CMA, and Northumberland County have also been outlined on LMI Calculations.
Population (peopled aged 15 and over) = 50,000
Number of employed people = 25,000
Number of unemployed people = 5,000
The first thing to look for is the Labour Force, which is:
1) Labour Force = Number of employed people + Number of unemployed people
= 25,000 + 5,000
Second, let’s look at the Unemployment Rate!
2) Unemployment Rate = (Unemployed ÷ Labour Force) * 100
= (5,000 / 30,000) * 100
There is much more information that you might be looking for that WDB would be glad to help you with. Please feel free to contact us anytime at HelpDesk@wdb.ca.