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Canada’s Unemployment Rate Rose To 5.2% In May

Canada’s unemployment rate rose 0.2 percentage points to 5.2% in May, its first increase since August 2022.

Statistics Canada said that overall employment was little changed across the country in May as employment declined by 77,000 positions (-2.8%) for youth aged 15 to 24, but increased by 63,000 (+0.5%) among people aged 25 to 54.

There were fewer people employed in business, building and other support services (-31,000), as well as in professional, scientific, and technical services (-13,000).

However, those job losses were partly offset by employment gains in manufacturing (+13,000) and utilities (+4,200).

Among Canada’s provinces, employment declined in Ontario (-24,000), Nova Scotia (-5,200), and Newfoundland and Labrador (-4,200) in May. Employment increased in Manitoba (+8,200) and was little changed elsewhere in the country.

Total hours worked decreased 0.4% and average hourly wages rose 5.1% to $33.25 in May from a year earlier.

The uptick in the unemployment rate in May marked the first monthly increase in nine months, or since August 2022.