After consecutive months of record low levels, the London-St. Thomas jobless rate rose to five per cent in July.
According to Statistics Canada, the reason for the slight rise in unemployment — up by 0.5 percentage points from 4.5 per cent in June — results from a combination of increases in the labour force and the addition of 1,500 jobs in the London-St. Thomas region.
Showing just how many jobs and labour were added in July, the participation rate in the region — an estimate of an economy’s active workforce — rose slightly to 65.7 per cent, the highest it has been in 2023.
The region had held record low jobless rates earlier in the reaching, going as low as 4.4 per cent in April and May.
Nationally, the unemployment rate rose for the third straight month, but only marginally, by 0.1 per cent. Statistics Canada says job losses were led by the construction industry, while the greatest job gains were made in health care and social assistance.
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