Canada’s unemployment rate has once again risen, reaching 6.2% due to mass migration and the loss of well-paying full-time work.
Despite adding 27,000 jobs last month, Canada’s unemployment rose once again as immigration continues to significantly outpace job growth. And more importantly, all gains were made in part-time work, with the country losing 36,000 full-time jobs and gaining 62,000 part-time jobs.
According to Statistics Canada, roughly 1.4 million people were unemployed last month, an increase of 2.1% compared to April, adding that the unemployed are having “greater difficulties finding work” compared to before the COVID pandemic/lockdowns.
Youth most affected by unemployment
According to StatsCan, unemployment rates are trending up among all major demographic groups.
However, none have been more affected than those aged 15–24, who saw an increase in unemployment of 1.7% for young women and 1.9% for young men between May 2023 and May 2024 despite the rise in part-time jobs typically occupied by teens and young adults.
Additionally, summer work for students is down, with the employment rate of returning students aged 20 to 24 being 2.9% lower than in May 2023. Male students were most affected, with the number of employed male students dropping 6.6% over the last year while female student employment numbers remained mostly unchanged.
Construction down, health care and social assistance up
According to StatsCan’s report, employment in health care and social assistance increased by 30,000 in May (up 1.1%), which is the third consecutive monthly increase. Additionally, over the last year, employment in the industry has risen by 170,000 (up 6.5%).
Meanwhile, despite the focus on the housing industry, construction continues to see losses, with 30,000 jobs lost in May. And despite the occasional monthly gain over the last year, on a year-over-year basis, employment in construction is down 35,000, a 2.2% loss compared to May 2023.
