London’s unemployment rate has dipped below seven per cent for the first time since March.
Stats Canada says the London-St. Thomas jobless rate fell to 6.7 per cent in October, down from 7 per cent the month before.
The unemployment rate has been above seven per cent since April.
While the rate did decline, it wasn’t the result of job creation. There were actually 300 jobs lost last month.
The labour force decline by 1,100 while an additional 800 people claimed unemployment.
While London’s unemployment rate fell, the national jobless rate held steady at 7 per cent despite the creation of 44,000 jobs.
Most of the jobs created were part-time while there was an uptick in the number of people in the labour market. Compared with 12 months earlier, employment increased by 140,000, mostly in part-time work.
Provincially, employment was up in Ontario and British Columbia, while it declined in Newfoundland and Labrador.
Employment in Ontario increased by 25,000 in October, and the unemployment rate declined 0.2 percentage points to 6.4 per cent. Compared with 12 months earlier, employment in the province grew by 77,000.