City’s unemployment rate 4.3 per cent in July
The city’s unemployment rate stood at an estimated 4.3 per cent in July, according to Statistics Canada labour market survey numbers released Friday.
The figure represents a slight decline from 4.1 per cent for the same month last year and comes despite a 700-person rise to 51,700 in the number of people holding down jobs
Those seeking work is up by 100 to 2,300 and the total not seeking work is down by 600 to 18,900. As well, the number of people of working age in the city is up by 800 to 54,000.
Consequently, the employment rate stood at 70.8 per cent, up 0.6 points, and the participation rate was 74 per cent, up 0.8 points.
In June, the unemployment rate was 4.2 per cent with 51,800 working, 2,300 seeking work and 18,700 not participating.
The figures are based on a threemonth rolling average and do not separate part-time from full-time employment.
All three unemployment rate are accurate to within plus-or-minus 0.7 points, 68 per cent of the time.