New data from Statistics Canada shows that Guelph’s unemployment rate fell to 4.5% in November, down from 5.2% in October.

Data reported on Friday shows that 400 jobs were added last month, but 200 people left the workforce. The number of people who applied for unemployment insurance because they are actively looking for work dropped by 600.

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The participation rate, which measures the proportion of the working-age population working or looking for work, fell slightly to 70.2 percent from 70.4 percent in November.

September marks the fifth consecutive month that the unemployment rate has fallen in Guelph.

In 2021, the unemployment rate fell to 6.0 percent in February before climbing to 9.2 percent in June.

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Canada’s economy posted an unexpectedly large job gain in November, driving down the unemployment rate.

The Canadian economy added 153,700 net jobs in November, well above analysts’ expectations of 35,000, while the unemployment rate fell to 6.0 percent, Statistics Canada said.

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Reference-globalnews.ca

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