National Unemployment Rate Dips to 5.1% - Women Lead Job Growth
Canada’s unemployment rate dropped to 5.1 per cent in May, the lowest level on record, according to recent Labour Force Survey results from Stats Canada.
This included a jump in jobs for women as the country added 40,000 jobs last month.
The agency said that women across all age groups made up the bulk of hiring in May, with employment steady for men. The participation rate, which looks at workers employed or looking for a job, hit an all-time high of 85 per cent for core-aged women in May. Also to note, there was a rise in employment rate in accommodation and food services (+20,000; +1.9%) for a second consecutive month.
The unemployment rate in BC has dropped to a three-year low of 4.5%, which is a rate not seen since July 2019. There are now nearly 100,000 more people working in BC than prior to the pandemic.