May did not bring any change to the London region’s record low unemployment rate.
Figures released Friday by Statistics Canada show the jobless rate for the London Census Metropolitan Area remained at 4.4 per cent last month, the lowest local jobless rate on record. The rate first fell to 4.4 per cent in April after having sat at 4.8 per cent in March.
The local economy added 1,900 new jobs last month and 1,900 more people entered the labour force. The number of people claiming unemployment was unchanged, Statistics Canada said.
May’s participation rate, which reflects the percentage of working-age individuals employed or looking for work, rose slightly to 64.6 per cent from 64.3 percent in April.
The London CMA includes St. Thomas, Strathroy, and other surrounding communities.
Nationally, the unemployment rate went up 0.2 percentage points to 5.2 per cent in May. It is the first time Canada’s jobless rate has recorded an increase since last August, according to Statistics Canada. The country lost 17,000 jobs last month, with fewer people aged 15-24 and more people aged 25-54 finding employment.
In Ontario, the rate was also up. It rose to 5.5 per cent last month from 4.9 percent the month prior. April’s jobless rate was the lowest Ontario has seen since October 1989. The province lost 24,000 jobs in May, Statistics Canada said. That follows a net increase of 205,000 recorded between September 2022 and April 2023.
