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Unemployment rate rises for first time since August

By Brad Perry Jun 9, 2023 | 12:57 PM

Canada’s economy shed a modest 17,000 jobs in May, according to Statistics Canada.

It pushed the country’s unemployment rate up to 5.2 per cent — the first increase since last August.

The national unemployment rate had been unchanged at five per cent since December.

Employment among youth aged 15 to 24 fell by 77,000, with young women seeing the largest drop.

StatCan said employment increased by 63,000 among people aged 25 to 54 and was little changed for those aged 55 and older.

There were fewer people employed in business, building and other support services, as well in professional, scientific and technical services. Employment increased in manufacturing, “other services” and utilities.

Officials reported a decline in the number of self-employed workers, while the number of employees in the public and private sector held steady.

Average hourly wages rose 5.1 per cent on a year-over-year basis to $33.25.

At look at some of the provincial numbers

Employment decreased in Nova Scotia, Newfoundland and Labrador and Ontario, while there was an increase in Manitoba. Little change was recorded in all other provinces.

New Brunswick gained 3,200 full-time jobs but lost 2,000 part-time positions for a net increase of 1,200.

The unemployment rate in the province remained unchanged at 6.1 per cent as there were more people in the labour force.

Nova Scotia lost 8,600 full-time positions, which was partially offset by an increase of 3,500 part-time jobs, for a net decrease of 5,200.

But with fewer people in the labour force, the province’s unemployment rate fell 0.6 percentage points to 5.7 per cent.

Prince Edward Island lost 500 jobs as the unemployment rate inched up slightly to 7.2 per cent.

In Ontario, the province lost 46,000 full-time jobs and added 22,000 part-time positions for a net decrease of 23,900.

As a result, the unemployment rate went up 0.6 percentage points to 5.5 per cent.

The full report can be found on Statistics Canada’s website.


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