ST. JOHN'S, N.L. -- Newfoundland and Labrador's NDP leader is stepping down after taking the helm of the legislature's third-place party in 2015.

Earle McCurdy said Tuesday he'll resign at the end of this month.

His decision to quit means both the opposition New Democrats and Progressive Conservatives must go through leadership contests before the next general election in 2019. The Tories are to announce a new leader next April.

Speaking at a news conference in St. John's, McCurdy said his family has been dividing time between St. John's and Eastport, N.L., where his wife Tracy has a business.

"It's time to move on," he said.

A small crowd of supporters gave McCurdy a standing ovation Tuesday after he made the announcement.

He said as leader he fought against the over-budget $12.7-billion Muskrat Falls project and against what he said were regressive policies such as proposed cuts to library funding in a province that has high illiteracy rates.

Provincial party president Mark Gruchy said the executive will meet next week to plan the leadership selection process.

McCurdy does not hold a seat in the legislature.

Current standings in the House of Assembly are 30 Liberals, seven Progressive Conservatives, two New Democrats, and one Independent.