London jobless rate falls again

London-St. Thomas jobless rate falls to 7.8 per cent in August

Photo by Scott Webb on Unsplash

FOR THE SECOND straight month, the unemployment rate in London Census Metropolitan Area has ticked lower, dropping to 7.8 per cent in August, according to Statistics Canada data released Friday.

Roughly 1,900 jobs were added in August while the labour force decreased by 2,200 and the number of people who claimed unemployment insurance because they are actively looking for work fell by 4,200.

The drop came as approximately 1,900 new jobs were created in the area last month. That brought the number of people in the area who have jobs to 281,900.

Story Continues Below

 

The London CMA includes St. Thomas, Strathroy and other surrounding communities.

The participation rate, which measures the proportion of the working-age population that is working or looking for work, fell to 65.3 per cent in August from 65.9 per cent in July.

The unemployment rate for August was at its lowest level since March, which recorded a jobless rate of 7.0 per cent.

Story Continues Below

 

Since the onset of the COVID-19 pandemic, the unemployment rate for London-St. Thomas peaked at 12.6 per cent in June 2020, fell to a low of 6.9 per cent in February 2021, climbed back up to 10.0 per cent in June, and has been falling since to 9.1 per cent in July and now 7.8 per cent in August.

Nationally, 90,000 new jobs were created in August, leading to a drop in the jobless rate to 7.1 per cent. The Ontario rate was 7.6 per cent in August, as 53,000 new jobs were added. Ontario’s unemployment rate was an even 8 per cent in July.