Slight increase in employment, unemployment rates also rise: May 2024 Labour Force Survey

The latest Labour Force Survey shows a slight growth in employment for May 2024, with an additional 27,000 jobs. Conversely, the employment rate fell by 0.1 percentage points to 61.3%. Unemployment rose to 6.2% from the previous month and year, indicating a tighter job market. Employment increased by 48,000 jobs for young women aged 15-24, while it decreased for women aged 25-54. The Health Care and Social Assistance sector saw job growth, while part-time employment increased and full-time positions decreased. The involuntary part-time rate also rose. Employment increased in three provinces, with Ontario leading, while Alberta experienced a drop.