After three straight months of increases, the London area’s jobless rate dropped last month – but it’s not clear if more people have found work or simply gave up on their job search.
Statistics Canada reported Friday the unemployment rate for London, St. Thomas, Strathroy and parts of Middlesex and Elgin counties had ticked down to 6.5 per cent, down from 7.2 per cent in June.
June had been the second-highest non-pandemic jobless rate since August 2016 (7.3 per cent).
Canada’s unemployment rate held steady at 6.9 per cent last month, but the economy shed 41,000 jobs with young workers and the private sector bearing the brunt of the losses.
At first glance, the London-area numbers seem to buck the anticipated trend that a Canada-U.S. trade war would de-stabilize the London area’s labour