After a slight increase in February, the local jobless rate fell last month.
Figures released Thursday by Statistics Canada show the unemployment rate in the London Census Metropolitan Area (CMA) fell to 4.8 per cent in March, down from the 5.1 per cent figure the area saw in February.
There were 1,400 fewer jobs in the London area last month, but the impact on the unemployment rate was offset by a drop in the size of the labour force. According to Statistics Canada, the labour participation rate, which reflects the percentage of working-age individuals employed or looking for work, fell to 64.6 per cent from February’s rate of 65.2 per cent.
In all, 296,700 people were considered employed last month. That is down from 298,100 in February.
Ontario’s economy added another 21,000 jobs in March, not enough to lower the unemployment rate. It remained steady at 5.1 per cent.
Statistics Canada’s Labour Force Survey said another 35,000 net jobs were added across Canada, holding the jobless rate at 5 per cent for the fourth consecutive month.
The transportation and warehousing industry added 41,000 net jobs. However, job losses in construction, services, and natural resources offset those gains.
Canadians worked slightly more last month. Hours worked increased by 0.4 per cent from February to March and 1.6 per cent compared to March 2022.
Average hourly wages continued to climb, up 5.3 per cent from last March, or $1.68 to $33.12.
**with files from Adelle Loiselle
Read original story from London Ontario – BlackburnNews.com