Canadian employment figures little changed in May
By Adam FreillConstruction Labour
After a period of strong growth, average monthly employment gains have moderated since January, reports Statistics Canada.
Overall employment in Canada was virtually unchanged in May, says Statistics Canada. Roughly 17,000 positions were lost on the month, representing just a 0.1 per cent decline. According to the data agency, employment growth has moderated in recent months following strong employment gains from September 2022 to January 2023. Those gains saw more than 325,000 additional roles filled in the workforce. In the construction sector, monthly figures were up marginally, as the industry gained an additional 600 workers in May.
The national general employment rate, or the percentage of people aged 15 and older who are employed, declined by 0.3 percentage points to 62.1 per cent in May, however this reflected strong population growth in the month rather than job losses as there was little change in employment.
After holding steady at 5.0 per cent for five consecutive months from December 2022 to April 2023, the unemployment rate rose 0.2 percentage points in May, reaching to 5.2 per cent. This was the first monthly increase since August 2022.
The participation rate — the proportion of the population who is employed or unemployed — was down 0.1 percentage points to 65.5 per cent for the month. This was mainly attributed to a decline in the participation rate for youth aged 15 to 24, a segment that dropped 1.4 percentage points, to 64.5 per cent, in May.