Canada’s unemployment rate rose 0.2% in May to 5.2%. This is the first increase since August 2022. The unemployment rate in Quebec is stable at 4%.
According to Statistics Canada, there was no change in overall employment in May, a consequence of the economic slowdown. There are 17,000 fewer jobs. “Job growth has slowed in recent months and averaged a monthly increase of 33,000 from February to April. This followed a strong increase in total employment of 326,000 recorded from September 2022 to January 2023,” Statistics Canada said.
In Quebec, employment was unchanged for the fourth consecutive month in May and the unemployment rate (4.0%) was below the 3.9% recorded in January 2023 and November 2022. In the Montreal metropolitan area, employment rose by 19,000 (+0.8%) and the unemployment rate was 3.9% (-0.7 percentage points), which represents the lowest rate since comparable data began to be published in 2006.
Employment decreased in May 2023 in Ontario (-24,000; -0.3%), Nova Scotia (-5,200; -1.0%) and Newfoundland and Labrador (-4,200; -1.8%), while increased in Manitoba (+8200; +1.20). %). Other provinces saw little change in employment.
Compared to a year ago, average hourly wages rose 5.1% in May (+$1.61 to $33.25).