Automotive Manufacturing Strengthens Metalworking Industry
July 2, 2012
According to automotive industry analyst Dennis DesRosiers, the value of Canadian motor vehicle assembly shipments rose in the first quarter of 2012 to $13.66 billion, an increase of 6.6 percent from the same period a year ago ($12.81 billion). Other subsectors showed double-digit performance improvements as well, including motor vehicle parts and accessories (up 17 percent YTD) and metalworking manufacturing (up 25.9 percent YTD).
It's clear from these gains that the manufacturing backbone of Canada's auto industry is enjoying a cyclical upturn as the North American automotive industry recovery gathers momentum, said DesRosiers.
Employment in these sectors has also risen, with assembly jobs rising every month this year, growing to 68,000 jobs in March from 51,400 in January. Metalworking manufacturing employment has risen since the last quarter of 2011, and current employment in the sector is up 40.8 percent over Q1 2011. A small decline in the motor vehicle parts and accessories employment (down 3.6 percent YTD) seems out of step with the subsector's strong output growth, but recent plant closures may be to blame for this discrepancy.
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