London’s jobless rate took a significant hit in July, rising almost a full percentage point from the month before.
Figures released Friday morning show the unemployment rate for the London Census Metropolitan Area, which includes Strathroy, St. Thomas and other surrounding communities, went up to 5.8 per cent in July.
That’s up from 4.9 per cent in June.
The jobless rate has now increased for a sixth straight month and has risen above 5.7 per cent for the first time since April 2018.
According to Statistics Canada, the London area lost 2,400 jobs last month and saw the labour participation rate fall to a new low of 57.2 per cent.
The local unemployment rate is slightly above both the federal and provincial jobless rates.
Nationally, the unemployment rate inched up to 5.7 per cent in July from June’s rate of 5.5 per cent. Statistics Canada says the economy lost over 24,000 jobs.
In Ontario, the jobless rate was 5.7 per cent in July, up from 5.4 per cent in June.