The latest numbers from Statistics Canada show London’s jobless rate has fallen to its lowest point in 10 years, to 5.6 per cent for the month of July.
That’s down from six per cent in June, and marks the lowest jobless rate in London-St. Thomas in over a decade.
READ MORE: London-St. Thomas jobless rate falls to 6% in June
Jobless numbers have been on the decline for most of the year, starting out at 6.9 per cent and then falling steadily. There was a slight rise in May, back up to 6.2 per cent from April’s 5.7 per cent.
Last month, the number of unemployed people dropped by 800, but the labour force also saw a drop in the number of people looking for work, with 2,100 fewer in the labour force.
READ MORE: London-St. Thomas jobless rate rises to 6.2%, 300 jobs lost in May
A similar trend can be seen across the country, with national unemployment falling from 6.5 per cent in June to 6.3 per cent mostly because of a shrinking labour force.
In the London area, there was a gain of 35,000 full-time jobs. Meanwhile, there are 24,000 fewer part-time jobs.
In the province, an increase in the number of jobs — mostly in the service sector — brought Ontario’s unemployment rate to 6.1 per cent in July, down from 6.4 per cent in June.
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