The London-St. Thomas unemployment rate for October was 6.7 per cent, the lowest rate recorded so far this year, down from 7.3 per cent in September.
The previous low for 2021 was February’s figure of 6.9 per cent.
Statistics Canada data reported Friday shows that 2,700 jobs were added in October and the labour force fell by roughly 900. The number of people who claimed unemployment insurance because they are actively looking for work fell by 1,800.
Since the start of the year, roughly 16,000 jobs have been added in the region.
The participation rate, which measures the proportion of the working-age population that is working or looking for work, was unchanged from September at 65.2 per cent.
October also marks the fourth consecutive month the local unemployment rate has fallen.
The unemployment rate for London-St. Thomas in October matched the national rate, which was also 6.7 per cent, as the Canadian economy added 31,000 jobs in October.
Provincially, Statistics Canada reported Ontario’s jobless rate for October at 7.3 per cent.
— with a file from The Canadian Press
Comments