Sunday, June 23, 2024

Unemployment rate increases to 6.2% throughout May

First Published:

Canada’s unemployment rate went up during the month of May.

In April, the unemployment rate sat at 6.1 per cent. It is now at 6.2 per cent.

Statistics Canada says it’s an increase of about 28,000 people compared to the previous month.

The government agency notes that people seeking employment may be “facing greater difficulties finding work in the current labour market.”

The long-term measurement for unemployment, which monitors those who have been unemployed for more than 27 weeks, is up, sitting at 18.2 per cent.

Across all measurable demographics, the unemployment rate for youth age 15 to 24 recorded the largest increases over the last year, with the figure showing an increase of 1.7 per cent for young women, and 1.9 per cent for young men.

The construction, transportation and warehousing sectors all saw declines in employment, too.

When looking at which provinces saw the biggest increases, Ontario, Manitoba and Saskatchewan all came out ahead.

Alberta saw its first significant decline since September, with around 20,000 positions being lost.

Statistics Canada’s next employment analysis, which will reflect the labour market’s conditions for June, will be released on July 5.

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