The London region's unemployment rate edged down slightly in May.
Statistics Canada released new figures on Friday that show the jobless rate for the London Census Metropolitan Area was 6.3 per cent last month, down 0.1 percentage points from 6.4 per cent in April. It is the first time this year the rate has seen a decline. After increases in January, February, and March unemployment held steady in April.
The May decline came as the area added 2,600 new jobs. The local labour force was up to 315,600 people last month, according to Statistics Canada.
The London CMA includes St. Thomas, Strathroy, and other surrounding communities.
Nationally, the unemployment rate rose 0.1 percentage points to 6.2 per cent, from April's 6.1 per cent. It has now reached a 28-month high and risen 1.1 percentage points since April 2023. The increase comes despite the Canadian economy adding more jobs than expected. A net of 26,700 new jobs were added in May, with many of the new gains in part-time employment.
In Ontario, roughly 50,000 more people found jobs to bring the unemployment rate down to 6.7 per cent. The jobless rate in April was 6.8 per cent.