The unemployment rate in the London region moved further away from a record low recorded earlier this year with its second consecutive increase last month.
Statistics Canada released figures Friday that show the jobless rate for the London Census Metropolitan Area rose slightly to 5 per cent in July. That is a 0.5 percentage point bump from the 4.5 per cent recorded in June. This is the second straight month the unemployment rate has risen since hitting a record low of 4.4 per cent in April and May. Prior to that it sat at 4.8 per cent in March 5.1 per cent in February, and 5 per cent in January.
The local economy added 1,500 new jobs last month for a total of 304,600 people employed, Statistics Canada said.
July’s participation rate, which reflects the percentage of working-age individuals employed or looking for work, increased to its highest point so far in 2023 to 65.7 per cent from 64.2 percent in June.
The London CMA includes St. Thomas, Strathroy, and other surrounding communities.
Nationally, the unemployment rate went up 0.1 percentage points to 5.5 per cent in July. It is the third consecutive month Canada's jobless rate saw an increase, according to Statistics Canada. The country lost 6,400 jobs last month. The construction industry led in job losses, while health care and social assistance were the sectors with the largest gains.
In Ontario, the rate saw a slight decrease. It fell to 5.6 per cent last month from 5.7 per cent the month prior.
