London-area jobless rate holds steady, mirroring Ontario, Canada trends

Local Journalism Initiative
·2 min read

The London-area unemployment rate held steady last month as the jobless level across Ontario rose slightly, newly released figures show.

The figures published Friday by Statistics Canada show the London region’s April jobless numbers are 6.4 per cent – the same as in March, when the rate rose from 5.9 per cent in February, and two full percentage points higher than it was a year ago. The figures represent London’s census metropolitan area, which also includes Strathroy, St. Thomas and parts of Elgin and Middlesex counties.

The April numbers also indicate the London area’s total labour force – the number of people 15 and older who are employed or looking for work – rose slightly to 66.2 per cent, an increase of 0.2 per cent from March.

Here's how London's April jobless rate compares to similar-sized cities in Southwestern Ontario:

Across Ontario, the jobless rate in April was 6.8 per cent, just a tick higher than March's 6.7 per cent. Employment provincewide increased by 25,000 people, or 0.3 per cent, from March.

Across Canada, the unemployment remained unchanged at 6.1 per cent in April, following an increase of 0.3 per cent in March. It's now a full percentage point higher than it was one year ago, in April 2023.

Nationwide, 1.3 million people are jobless.

According to Statistics Canada, unemployment rates have risen for all demographics across the country over the past year, but the largest increase was among those aged 15 to 24.

The country’s youth unemployment rate rose again in April, a 0.2 per cent increase from March to 12.8 per cent. It's the highest unemployment rate for the demographic since July 2016, excluding 2020 and 2021 during the COVID-19 pandemic.

bwilliams@postmedia.com

* * *

Brian Williams, Local Journalism Initiative Reporter, London Free Press

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • A boomer couple who were 'watching every single penny' they spent in the US moved to Portugal 2 years ago — and money isn't a concern for them in retirement anymore

    Ann, 67, and her husband moved to Portugal after scraping together enough money to pay their expenses in the US. Their quality of life is much better now.

  • Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease

    The Federal Reserve slashed its benchmark interest rates to combat the sudden recession. “The 30-year mortgage rate was at a record low, the lowest ever recorded ... 2.65%, that’s what your mortgage rates were.” The question of who can best steer the U.S. economy could be a deciding factor in who wins November’s presidential election.

  • Consumers are so demoralized by inflation and high rates that they’ve given up on saving for the American Dream and are spending money instead, economist says

    "This positive spending is not a reflection of some sort of internalized secret sense of confidence that consumers have."

  • Should the Fed relax its 2% inflation goal and cut interest rates? Yes, some experts say.

    The Fed's goal of keeping rates high until inflation falls to 2% has significant implications for consumers, investors and the U.S. economy.

  • Fed's Barr: Inflation data 'disappointing,' tight policy needs more time

    U.S. inflation data through the first months of 2024 has been "disappointing," Fed vice chair for supervision Michael Barr said on Monday, leaving the central bank short of the evidence it needs to ease monetary policy. "We will need to allow our restrictive policy some further time to continue its work," Barr said, reinforcing the Fed's overarching message that rate cuts, highly anticipated by markets, are on hold until it is clear inflation will return to the Fed's 2% target.

  • From Taylor Swift concerts to Hollywood film shoots, economic claims deserve skepticism

    What do Taylor Swift, county fairs and taxpayer handouts to Hollywood all have in common? They all ostensibly boost the economy. It's rarely true.

  • Americans are down on the economy (again), with inflation topping election concerns

    After a spurt of optimism, Americans are feeling a little more glum about the economy - again. Consumer sentiment, a gauge of Americans’ economic perceptions, is at a six-month low, according to a closely watched index by the University of Michigan. The measure notched its biggest drop since 2021, reflecting the persistent tug of inflation on household budgets and fueling fears that rising prices, unemployment and interest rates could all worsen in the coming months.Subscribe to The Post Most ne

  • Nasdaq, gold scale all-time highs amid cautious Fed comments

    NEW YORK (Reuters) -The Nasdaq closed at a record high on Monday and gold jumped to an all-time high as investors weighed hawkish statements from the Federal Reserve against evidence of cooling U.S. inflation. The tech-heavy Nasdaq led the three major U.S. stock indexes with a boost from chips, as Nvidia Corp advanced ahead of its closely watched earnings report, expected on Wednesday. The S&P 500 finished the session with a modest gain, while the blue-chip Dow dipped below 40,000 after closing on Friday above that level for the first time.

  • Vietnam to Prioritize Economic Growth as Challenges Mount

    (Bloomberg) -- Vietnam’s government will prioritize supporting economic growth amid lingering challenges from weak global demand, Deputy Prime Minister Le Minh Khai said.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeJamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’One of the Last Big Bears on Wall Street Turns Bullish on US StocksHims Debuts $199 Weight-Loss Shots at 85% Discount to We

  • Congress sets stage for ‘side deal’ spending fight with White House

    Congress is setting the stage for another partisan fight over government funding, as conservatives look to chip away at a previous “side deal” struck between Speaker Kevin McCarthy (R-Calif.) and the White House aimed at boosting nondefense dollars. Democrats have been sharply criticizing a recent announcement by House Appropriations Chair Tom Cole (R-Okla.) previewing cuts…

  • Fiscal Fears Mount With Colombia Weighing Deeper Budget Deficit

    (Bloomberg) -- Colombia is entering a vicious cycle of tepid economic growth and low tax revenue, with President Gustavo Petro’s government considering wider budget deficits and investors navigating the deteriorating fiscal outlook.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeJamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’One of the Last Big Bears on Wall Street Turns Bullish on US

  • Morning Bid: China clouds darken market mood

    Broadly speaking, the global backdrop for Asian markets is still bright, with investors confident that the Fed will soon cut U.S. interest rates keeping the dollar, bond yields and volatility in check, and boosting risk assets. But there's a cloud that shows no sign of lifting: China. The economic "data dump" from Beijing on Friday showed that China's recovery is sputtering - investment growth slowed, retail sales expanded at the slowest pace since late 2022, and new home prices fell at the fastest rate in nine years.

  • Top 5 things to watch in markets in the week ahead

    Investing.com -- The Federal Reserve is to publish the minutes of its latest meeting and several Fed officials are to deliver remarks as renewed expectations for rate cuts power markets higher. AI darling Nvidia (NASDAQ:NVDA) is to report earnings, PMI releases will give insights into the health of the global economy, while the U.K. is to release what will be closely watched inflation data and the Reserve Bank of New Zealand meets. Here’s what you need to know to start your week.

  • Reeves says ministers ‘gaslighting’ over inflation ahead of expected fall in CPI

    Labour said the average earner was £180 worse off than they would have been had wages kept pace with inflation since October 2021.

  • Bond Rally Built on Inflation Euphoria Faces UK Reality Check

    (Bloomberg) -- A global bond rally ignited by signs that inflation in the world’s largest economy is finally slowing once again faces a reality check this week.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeSaudi Crown Prince Postpones Japan Trip Over King’s HealthOne of the Last Big Bears on Wall Street Turns Bullish on US StocksEbrahim Raisi, Iranian President Confronting West, Dies at 63Governm

  • Antiques Roadshow expert stunned over 'never seen before' item with huge valuation

    Antiques Roadshow expert John Benjamin was left stunned over a "never seen before" item with a huge valuation that prompted gasps from the crowd…

  • Trump Trial Judge Seals the Courtroom to Unleash on MAGA Lawyer

    Steven Hirsch/Pool via ReutersThe judge overseeing Donald Trump’s criminal trial in Manhattan suddenly sealed his courtroom on Monday afternoon, kicking all reporters out so he could engage in a brawl with Robert Costello, a MAGA-friendly lawyer who played a key role in the attempted backchannel between Michael Cohen and the Trump White House in 2018.After Costello, a former prosecutor, was reprimanded for delivering outbursts in the court whenever he was interrupted or told not to answer a ques

  • Kevin Costner Makes Rare Appearance with 5 of His Kids as They Walk Red Carpet at Cannes Film Festival

    Costner is dad to seven kids — Annie, Lily, Joe, Liam, Cayden, Hayes and Grace

  • How did Iran's president end up on half-century-old US-made helicopter?

    The US-made Bell 212 that crashed on Sunday with President Ebrahim Raisi, Foreign Minister Hossein Amirabdollahian and several members of their entourage on board was most likely purchased during the rule of Shah Mohammad Reza Pahlavi.

  • Judge admonishes defense witness for his behavior after prosecution rests in Trump hush money trial

    NEW YORK (AP) — The judge overseeing Donald Trump's hush money trial briefly closed the courtroom Monday, forcing reporters into the hallway after he admonished a defense witness for his behavior on the witness stand. It happened minutes into the testimony of Robert Costello, a former federal prosecutor who has publicly blasted the prosecution’s star witness, Michael Cohen. Costello aggravated Judge Juan M. Merchan repeatedly in his testimony by making comments under his breath and continuing to