Canada’s Unemployment Rate Jumps to 8.2% in May Amid Tighter Covid-19 Restrictions

Canada’s labour market continued to lose momentum last month, as widespread Covid-19 restrictions further hindering business activity.

According to data published by Statistics Canada on Friday, the country shed 68,000 jobs in May, following a loss of 207,100 positions in the month prior. This caused the unemployment rate to jump from 8.1% to 8.2%. The less than dismal employment report coincides with the tightening of public health restrictions across several key provinces, namely in Ontario, Manitoba, and Alberta.

The majority of May’s labour market contraction was concentrated in part-time work, which declined by 54,000 positions. Full-time employment, on the other hand, remained relatively unchanged last month, following a decline of 129,000 positions in April. Similarly, the number of Canadians working from home also remained little changed last month, and stood at 5.1 million.

The month of May saw employment levels fall across several industries, particularly those that have faced unprecedented struggles throughout the pandemic. The retail trade sector shed 29,000 positions, and albeit employment in accommodation and food services was relatively unchanged last month, the sector still remains one-third below pre-pandemic levels.

For the first time since April 2020, employment in manufacturing suffered a decline, falling by 2% last month. Likewise, Canada’s construction sector shed 16,000 positions, as tighter public health restrictions in Ontario affected non-essential construction.


Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

MP Michael Chong Wants Feds to Explain ‘Divergence’ with UK Saying A Terrorist Attack Is ‘Very Likely’ in Canada

Michael Chong, a member of Canada’s main opposition Conservative party, is questioning the gap between...

Monday, November 6, 2023, 03:40:00 PM

Most Canadians Want Deeper Immigration Cuts Amid Housing Crisis, Survey Shows

A majority of Canadians believe the federal government’s planned 16% reduction in immigration quotas does...

Monday, February 24, 2025, 12:54:00 PM

Rising Rates Globally Set To Hit Spain, Australia, Canada The Hardest

Many corners of the financial and investing world are grappling with challenges that were not...

Saturday, September 17, 2022, 09:00:00 AM

New Vehicle Purchases Rebound for Second Consecutive Month, June Sales Surpass Pre-Pandemic Levels by 18%

As the coronavirus pandemic brought many sectors of Canada’s economy to a screeching halt in...

Wednesday, August 19, 2020, 06:07:00 PM

US Urges Canada to Increase NATO Military Spending ‘As Rapidly As Humanly Possible’

Jake Sullivan, US President Joe Biden’s national security adviser, has called on Canada and other...

Tuesday, August 27, 2024, 08:02:10 AM