London-St. Thomas sits at record low unemployment rate for 2nd straight month

The London-St. Thomas jobless rate held steady at its record low level of 4.4 per cent for the second month in a row.

According to Statistics Canada, London added 1,900 jobs in May while also seeing a similar increase in the labour force by 1,900 people. There were no changes to the number of people who claimed unemployment.

In April, the unemployment rate fell to 4.4 per cent, the lowest level ever recorded in available data from Statistics Canada dating back to 1994.

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The participation rate — an estimate of an economy’s active workforce — also rose to 64.6 per cent in May, up from 64.3 per cent in April.

Nationally, the jobless rate rose slightly to 5.2 per cent, the first increase since last August. Canada’s employment fell among youth aged 15-24 and rose among those aged 25-54.

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