May 9, 2023
Summary: Employment increased alongside a smaller increase in the labour force. This resulted in a decrease in the unemployment rate to 6.2%, bringing it close to the pre-pandemic rate from April 2019 (6.5%).
Employment
From March-April, employment increased from 572.3 thousand to 590.9 thousand, which was larger than the figure from April 2022 (581.5 thousand). The labour force grew from 622.7 thousand to 630.1 thousand. This brought the labour force close to the record highs seen last summer.
The combination of a large increase in employment and a modest increase in labour force resulted in a notable decrease in the unemployment rate, down to 6.2% from 8.1%. Although this is much higher than the unemployment rate from April 2022 (5.1%), it is in line with the level from April 2019 (6.5%) and relatively low in a historic context; from the year 2000 onward (excluding the pandemic era), the unemployment rate in April tends to be around 8-10% or higher. The overall Ontario unemployment rate was 4.9%, down from 5.4% in March 2023.
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FOR MORE INFORMATION, CONTACT:
Ali Ahmad
Research Analyst
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 222
aahmad@iciconstruction.com
