Saturday, May 31, 2025

Latest

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

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Canada Posts Trade Deficit of $1.1 Billion Amid Higher Imports

Following what were two consecutive months of trade surpluses, Canada’s merchandise trade balance has reverted...

Tuesday, May 4, 2021, 03:40:00 PM

Canadian Economy on a Path to Recovery, Labour Force Survey Data Suggests

As the coronavirus pandemic is starting to subside and restrictions and lockdowns are being lifted,...

Saturday, June 6, 2020, 04:17:00 PM

US Retail Sales Disappoint With 0.3% Growth As Household Incomes Continue to Decline

As new coronavirus infections continue to spiral out of control across the US, it appears...

Tuesday, November 17, 2020, 02:17:00 PM

Federal Government Proposes to Extend CERB Program, Could Cause Current $60 Billion Budget to Double

In response to the financial hardships many Canadians suddenly faced in wake of the coronavirus...

Thursday, June 11, 2020, 05:57:00 PM

Federal Tax Receipts Fall Three Times Greater Than Reported Unemployment Numbers, Suggestive of Employment Data Inaccuracy

Amid the unprecedented onset of the coronavirus pandemic, many Americans suddenly found themselves under mandatory...

Tuesday, June 16, 2020, 03:56:00 PM