London-St. Thomas jobless rate rose to 6.6% in August, new 2022 record – London | Globalnews.ca

The jobless rate in London-St. Thomas rose to 6.6 per cent in August, the highest level recorded of the year.

Last month’s figure is up from 6.1 per cent in July.

According to Statistics Canada, London lost 2,200 jobs in August, with a drop of 900 in the labour force and an increase of 1,300 in the number of people claiming unemployment.

With a slightly decreased participation rate of 65.8 per cent, down from 66 per cent in July, more than 292,000 people in the region were employed last month.

The participation rate measures the size of the working-age population that is currently working or seeking employment.

Nationally, Canada’s unemployment rate rose to 5.4 per cent in August, marking some “initial relief” from a historically tight job market.

The unemployment rate in July was 4.9 per cent, the lowest on record with comparable data going back to 1976.

August stands as the first time Canada’s unemployment rate has risen in seven months.