Shomporko Online News Desk: According to Statistics Canada, the Canadian economy lost 68,000 employment in May as COVID-19 lockdowns persisted.
Because the number of unemployed persons in Canada remained largely stable, the unemployment rate was 8.2 per cent in May, slightly changed from 8.1 per cent in April.
What happened in May was that more people left the workforce, including individuals who had become disillusioned and had given up hunting for jobs.
Where data from Statistics Canada shows that the unemployment rate in May would have been 10.7% of those who wanted to work but didn’t look for work were factored in.
With the job losses in May, the country is now around 571,100 jobs (or 3%) below pre-pandemic levels seen in February 2020.
From Statistics Canada, employment in goods-producing industries fell for the first time since April 2020, with manufacturing losing 36,000 jobs in May.