London-St. Thomas unemployment rate hits historic low

The unemployment rate for London-St. Thomas hit 4.4 per cent last month, the lowest level ever recorded in available data dating back to 1994.

According to Statistics Canada data released Friday, the jobless rate fell nearly half a percentage point from March’s figure of 4.8 per cent.

The drop was fueled by the addition of 1,000 jobs in the region. The labour force dropped slightly, while the number of people claiming unemployment also fell.

The participation rate, which measures the proportion of the working-age population that is working or looking for work, fell slightly to 64.3 per cent from 64.6 per cent the month prior.

While the jobless rate may have hit a historic low for London-St. Thomas, cost of living issues continues to put pressure on residents across the country.

— With files from Devon Peacock. 

© 2023 Global News, a division of Corus Entertainment Inc.

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