Statistics Canada has released the latest employment picture for the London area and it is not a pretty portrait.
Figures released Friday morning show the unemployment rate for the London Census Metropolitan Area, which includes St. Thomas, Strathroy, and other surrounding communities, went up by almost a full percentage point in July. The sixth straight monthly increase in the jobless rate saw it climb to 5.8 per cent in July from 4.9 per cent in June. The local unemployment rate is above both the federal and provincial jobless rates.
According to Statistics Canada, the London area lost 2,400 jobs last month. More concerning perhaps is the decrease in the labour participation rate, which measures the percentage of people working or looking for work. It fell to a new low of 57.2 per cent.
Nationally, the unemployment rate inched up to 5.7 per cent in July from June's rate of 5.5 per cent. Statistics Canada said the economy lost over 24,000 jobs.
In Ontario, the jobless rate was 5.7 per cent in July. It was 5.4 per cent in June.
