New Brunswick will have a labour force participation rate equal to or higher than the national rate by 2028.
The labour force participation rate refers to the percentage of the population that is currently working or actively seeking employment. Increasing labour force participation could introduce more permanent workers into New Brunswick's labour market while increasing overall employment rates for the province.
Currently, New Brunswick’s labour force participation rate is below the national average.
The participation rate refers to the active portion of an economy’s labour force. Since it applies only to those of working age, an economy's labour force participation rate is affected by the age demographics of its population. Due primarily to an aging population, and concurrently a decreasing younger population, New Brunswick’s participation rate has been stagnating/decreasing and, when increasing, appears higher for the wrong reasons.