The unemployment rate in the London region recorded its fourth consecutive increase last month to hit a high not seen in a year.
Statistics Canada released figures Friday that show the jobless rate for the London Census Metropolitan Area jumped to 6 per cent in September, up from 5.6 per cent the month prior. The last time the local unemployment rate was 6 per cent or higher was in October 2022 when it climbed to 6.5 per cent.
The unemployment rate has been slowly rising since it hit a record low of 4.4 per cent in April and May. In June it rose a 0.5 percentage point to 4.5 per cent and then further increased to 5 per cent in July.
The latest increase comes as more people began looking for work. September's participation rate, which reflects the percentage of working-age individuals employed or looking for work, increased to its highest point in 2023 to 67.5 per cent from 66.7 percent in August. The region also saw its population grow by roughly 1,700 to bring it to 491,900.
More than 3,000 new jobs were added to the local economy last month, Statistics Canada said.
The London CMA includes St. Thomas, Strathroy, and other surrounding communities.
Nationally, the unemployment rate held steady at 5.5 per cent in September. It is the third straight month Canada's jobless rate has been at 5.5 per cent, according to Statistics Canada. The country added 64,000 jobs and saw more people enter the labour force last month. The largest gains were in part-time work. Finance, insurance, real estate rental and leasing, information and recreation, and construction led in job losses, while educational services and transportation and warehousing were the sectors with the most people working.
In Ontario, the rate was also up. It rose to 6 per cent last month from 5.9 per cent in August.
