Niagara unemployment rate hits highest since January 2022
Published September 11, 2023 at 10:43 am
While Canada’s employment rate slowly crept up in August, Niagara Region saw the reverse, hitting the highest unemployment rate since January 2022 at 6.9 per cent.
That number is, in fact, more than a percentage point higher than the six-month average immediately before the COVID-19 pandemic, which ranged between 5.3 per cent and 5.9 per cent.
The size of Niagara’s labour force, meaning simply those employed or actively seeking employment, increased by 1,700 from July to August, even as the total employed dropped by 400.
Nationally, employment rose by 0.2 per cent in August. This increase in employment was outpaced by population growth (0.3 per cent) and the employment rate — the proportion of the population aged 15 and older who are employed — fell 0.1 percentage points to 61.9%.