Canada's unemployment rate rises to 8.4%

The unemployment rate rose by 0.4 percentage points to 8.4%, the highest rate in 11 years. Since the employment peak of last October, employment has fallen by 363,000 or 2.1%.

Ontario was the major loser while employment increased in Manitoba, Nova Scotia and Saskatchewan, and was little changed in all other provinces. Statistics Canada reports manufacturing losses in May, transportation and warehousing also declined. Public administration was the only industry with a notable employment increase. Employment declines in May affected mostly men and women aged 25 to 54, while there were employment increases among women aged 55 and over. There were large declines in full-time employment (-59,000) in May, bringing total full-time losses since October to 406,000 (-2.9%). Over the same period, part-time employment has continued to trend up, increasing by 44,000 (+1.4%). Ontario was the only province to experience a substantial employment decline in May, down 60,000, bringing total losses since last October to 234,000 or 3.5%. While Ontario accounts for 39% of the total working-age population, it has experienced 64% of overall employment losses since the start of the labour market downturn.