The London-St. Thomas market added 3,900 jobs in November as the unemployment rate held steady at 6.3 per cent.
The jobless rate was kept in check by a spike in the labour force, which saw a rise of 4,200. An extra 300 people claimed unemployment last month.
London unemployment rate hovered below six per cent for most of the summer before it rose to its current level in October.
The labour participation rate continues to be a problem for London. It rose slightly in November from 59 per cent in October to 59.9 per cent last month and continues to be among the worst in the country. London’s labour participation rate is the worst among cities its size or larger.
Nationally, Statistics Canada reported 79,500 jobs were created last month, leading to a drop down to 5.9 per cent, its lowest level since February 2008. The last time the national rate was this low, the global financial crisis hadn’t yet happened.
Year over year, employment was up by 390,000 in Canada with all the gains attributable to full-time work. The unemployment rate trended downwards in the 12 months to November, falling 0.9 percentage points over this period.
Out of all the provinces in Canada, Ontario had the best month. Of the 79,000 jobs created in November, 44,000 came in Ontario. The unemployment rate fell almost half a per cent to 5.5 per cent, the lowest its been since July 2000.
Ontario has seen a downward trend in the unemployment rate since the start of 2016.
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