| The unemployment rate for Canada was around 5.6%. By May 2024 (end of Q2), the unemployment rate rose to 6.2%, reflecting an increase of 0.1 percentage points |
| Employment was little changed in May (+27,000; +0.1%) and the employment rate fell 0.1 percentage points to 61.3%.The unemployment rate was 6.2% in May, up 0.1 percentage points in the month and 0.9 percentage points on a year-over-year basis. Employment increased for young women aged 15 to 24 (+48,000; +3.7%) and those aged 55 and older (+21,000; +1.1%) in May. At the same time, employment declined among core-aged women (aged 25 to 54) (-40,000; -0.6%) and young men (-23,000; -1.6%).Employment rose in May in health care and social assistance (+30,000; +1.1%), finance, insurance, real estate, rental and leasing (+29,000; +2.0%), business, building and other support services (+19,000; +2.7%), as well as accommodation and food services (+13,000; +1.1%). It declined in construction (-30,000; -1.9%), transportation and warehousing (-21,000; -1.9%) and utilities (-5,400; -3.5%). |
| Employment increased in May in Ontario (+50,000; +0.6%), Manitoba (+7,800; +1.1%), and Saskatchewan (+5,400 +0.9%), while there were declines in Alberta (-20,000; -0.8%), Newfoundland and Labrador (-2,100; -0.9%) and Prince Edward Island (-1,100; -1.2%). There was little change in the remaining provinces. Total hours worked were unchanged in May and were up 1.6% compared with 12 months earlier. Average hourly wages among employees increased 5.1% (+$1.69 to $34.94) on a year-over-year basis in May, following growth of 4.7% in April (not seasonally adjusted). |
| The employment rate of returning students aged 20 to 24 was 61.0% in May, 2.9 percentage points lower than in May 2023 (63.9%) (not seasonally adjusted). The total number of employed people was little changed in May (+27,000; +0.1%), following an increase of 90,000 (+0.4%) in April. On a year-over-year basis, employment was up by 402,000 (+2.0%) in May. |
| Part-time employment rose by 62,000 (+1.7%) in May, while full-time employment edged down (-36,000; -0.2%). On a year-over-year basis, part-time employment (+3.8%; +140,000) rose at a faster pace compared with full-time employment (+1.6%; +263,000) |
| The employment rate—the proportion of the population aged 15 and older who are employed—declined 0.1 percentage points to 61.3% in May, the seventh decrease in the past eight months. Compared with its recent high of 62.4% reached in January and February 2023, the employment rate has fallen 1.1 percentage points, as population growth outpaced employment growth. While many workers in Canada work part-time (defined as working fewer than 30 hours per week) as a matter of choice, others do so involuntarily. Increases in the involuntary part-time rate can occur as a result of business or economic conditions, and may be an indicator of underemployment. |
| The involuntary part-time rate—the proportion of part-time workers who could not find a full-time job or who worked part-time due to poor business conditions—was 18.2% in May, up from 15.4% observed 12 months earlier. |
| For the full document click the link below:
Canada: Unemployment Q2 |
