Industry highlights – Employment insurance and housing prices
Employment Insurance, December and Annual 2024
The following statistics were released from the Economics and Statistics Division on February 20, 2025. For full details from this dataset, click here.
Monthly (December 2024 vs November 2024, seasonally adjusted regular beneficiaries)
- In December 2024, there were 21,920 Nova Scotians in receipt of regular employment insurance benefits (seasonally adjusted)
- Nova Scotia’s seasonally adjusted regular employment insurance usage decreased by 320 (-1.4%) from November to December
- The number of employment insurance beneficiaries amounted to 3.9% of the labour force in Nova Scotia in December 2024
- Nationally, the share of beneficiaries was 2.1% of the labour force
Year-over-year (December 2024 vs December 2023)
- Compared to December 2023, Nova Scotia’s employment insurance usage declined 0.5%
- National employment insurance usage increased 2.6% compared to December 2023
- Use of employment insurance (as a share of the labour force) was lower for workers under age 55
- Employment insurance use was higher for workers aged 55 and older
- Across all age cohorts, male use of employment insurance was higher as a share of the labour force than female use of employment insurance
- By occupation, employment insurance beneficiaries were more likely to be in technical trades/transportation, manufacturing/utilities, general trades and helpers/labourers/other transport operators
- Most occupations reported increases in employment insurance usage compared to December 2023, with the fastest rise in art/culture/recreation and sport as well as unclassified occupations
Annual (2024 vs 2023)
- Nova Scotia’s employment insurance usage was up by 1.4% in 2024 compared to 2023
- National employment insurance usage was up by 11.0% with gains in all provinces except New Brunswick and Newfoundland and Labrador
By occupation, the highest number of employment insurance beneficiaries were technical trades/transportation officers and occupations in manufacturing/utilities- In 2024, employment insurance usage grew fastest for professional occupations in natural and applied science as well as among senior management and legislative occupations
- The largest annual percentage decline in employment insurance use was among unclassified occupations as well as natural resources workers, agriculture workers and manufacturing/utilities occupations
Teranet-National Bank House Price Index, January 2025
The following statistics were released from the Economics and Statistics Division on February 20, 2025. For full details from this dataset, click here.
Monthly (January 2025 vs December 2024, seasonally adjusted)
- Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose by 0.9% from December 2024 to January 2025
- The composite 11-city index of resale house prices edged up 0.01% with gains in seven of 11 urban areas
Year-over-year (January 2025 vs January 2024)
- Halifax resale home prices were up 5.8% year-over-year
- Prices for the 11-city composite index were up 3.5% with gains in all urban centres except Hamilton
Trends
- After recording year-over-year house price declines for most of the first half of 2023, Halifax resale home prices returned to positive year-over-year growth starting in the second half of 2023
- However, year-over-year house price growth has a declining trend with fluctuations since the end of 2023
- Year-over-year house price growth in Halifax has outpaced national gains in each of the last nine months
New Housing Price Index, January 2025
The following statistics were released from the Economics and Statistics Division on February 20, 2025. For full details from this dataset, click here.
Monthly (January 2025 vs December 2024)
- There was no change reported Nova Scotia new housing prices from December 2024 to January 2025
- Nationally the price of new houses declined 0.08%
Year-over-year (January 2025 vs January 2024)
- Nova Scotia’s new housing prices increased 1.5% from January 2024 to January 2025
- Nationally, prices were up 0.1%
- New housing prices increased year-over-year in six provinces, led by Alberta