Employment was little changed in May (+27,000; +0.1%) and the employment rate fell 0.1 percentage points to 61.3%. The unemployment rate was 6.2% in May, up 0.1 percentage points in the month and 0.9 percentage points on a year-over-year basis, according to a new report released Friday by Statistics Canada.
Alexander Suhorucov
“Employment was up for young women aged 15 to 24 (+48,000; +3.7%) and for women aged 55 and older (+21,000; +1.1%) in May. At the same time, employment declined among core-aged women (aged 25 to 54) (-40,000; -0.6%) and young men (-23,000; -1.6%). Employment rose in May in health care and social assistance (+30,000; +1.1%), finance, insurance, real estate, rental and leasing (+29,000; +2.0%), business, building and other support services (+19,000; +2.7%), as well as accommodation and food services (+13,000; +1.1%). It declined in construction (-30,000; -1.9%), transportation and warehousing (-21,000; -1.9%) and utilities (-5,400; -3.5%),” said the federal agency.
“Employment increased in May in Ontario (+50,000; +0.6%), Manitoba (+7,800; +1.1%), and Saskatchewan (+5,400 +0.9%), while there were declines in Alberta (-20,000; -0.8%), Newfoundland and Labrador (-2,100; -0.9%) and Prince Edward Island (-1,100; -1.2%). There was little change in the remaining provinces. Total hours worked were unchanged in May and were up 1.6% compared with 12 months earlier. Average hourly wages among employees increased 5.1% (+$1.69 to $34.94) on a year-over-year basis in May, following growth of 4.7% in April (not seasonally adjusted).”
The total number of employed people was little changed in May (+27,000; +0.1%), following an increase of 90,000 (+0.4%) in April. On a year-over-year basis, employment was up by 402,000 (+2.0%) in May, said the report.
Part-time employment rose by 62,000 (+1.7%) in May, while full-time employment edged down (-36,000; -0.2%). On a year-over-year basis, part-time employment (+3.8%; +140,000) rose at a faster pace compared with full-time employment (+1.6%; +263,000), it said.
“The employment rate—the proportion of the population aged 15 and older who are employed—declined 0.1 percentage points to 61.3% in May, the seventh decrease in the past eight months. Compared with its recent high of 62.4% reached in January and February 2023, the employment rate has fallen 1.1 percentage points, as population growth outpaced employment growth,” added StatsCan.
It said the unemployment rate has trended up since April 2023, rising 1.1 percentage points over the period.
“Long-term unemployment—the proportion of those who had been continuously unemployed for 27 weeks or more—stood at 18.2% in May, up from a recent low of 13.2% in August 2023.”
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.
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