Hamilton sees improvements in all key employment metrics in May’s Labour Force Survey release
The latest numbers are in from Statistics Canada’s monthly Labour Force Survey. May’s Labour Force Survey release, which covers April of 2022, saw a positive trend for the Hamilton Census Metropolitan area. All three key labour market indicators (i.e. the unemployment rate, employment rate, and participation rate) moved in positive directions.
The unemployment rate, which measures the percentage of the labour force age 15 and over who wanted to work but could not find employment (either through self-employment or from an employer), fell from 5.2% to 5.1%.
The participation rate, which measures the percentage of the population age 15 and over who were working (either through employment or self-employment) or looking for work, increased from 64.3% to 64.4%
The employment rate, which measures the percentage of the population age 15 and over who were working, increased from 61.0% to 61.1%.
May’s Labour Force Survey release reflects 1,200 more people living in Hamilton who were working in April 2022 compared to March 2022. This is a result of 1,300 people gaining full-time employment and 100 people losing part-time employment. Though these are modest monthly gains, they reflect an ideal trend as Ontario moves into the initial months of the tourism season.
For comparison, in April of 2021 Hamilton’s unemployment rate was 7.8% compared to the present 5.1%. The employment rate was identical, and the participation rate was slightly higher at 66.0% compared to the present 64.4%. These differences are largely the result of many more active job seekers in April 2021 compared to April 2022. While fewer job seekers, thus less unemployment, is a very positive trend, it also provides some greater insights into the current challenge that employers across Canada are facing with respect to attracting and retaining a talented labour force. The May Labour Force Survey release shows that across Ontario’s 16 census metropolitan areas, Hamilton’s 5.1% unemployment rate was the 8th lowest unemployment rate and below the CMA average unemployment of 5.2%.
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