The unemployment rate in Windsor increased dramatically last month and is the highest in Canada, according to Statistics Canada
The jobless rate in Windsor in April was 8.4 per cent, compared to 7.5 per cent in March
St. Catharines-Niagara is second highest in the country at 7.9 per cent
On a national level, Canadian employers added 90,000 jobs in April, marking the largest employment gain in more than a year
Statistics Canada released its labour force survey on Friday, which says the jobless rate held steady at 6.1 per cent last month
The agency says the April employment gains were driven by part-time work
The Canadian job market has cooled significantly over the last year as the Bank of Canada’s interest rate hikes have weighed on economic growth
The unemployment rate is up a full percentage point from a year ago as population growth has outpaced job creation
The data notes unemployment is up across all major demographic groups, with youth taking the largest hit
The April employment gain was the largest monthly increase since January 2023
Employment increased in professional, scientific and technical services, accommodation and food services, health care and social assistance as well as natural resources
Employment fell in the utilities industry
Wage growth slowed last month to an annual pace of 4.7 per cent, down from 5.1 per cent in March
The Bank of Canada will have an eye on Friday’s data as it gears up for its interest rate decision next month
Economists are widely expecting the central bank to begin lowering its policy rate in June or July, with that decision highly dependent on the April inflation reading
The Bank of Canada’s key interest rate currently sits at five per cent, the highest it’s been since 2001
