London-area unemployment dropped to 5.4% in August but no new jobs were created

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The London-St. Thomas jobless rate dropped to 5.4 per cent in August, down from 5.6 per cent in July.

But the headline figure is something of a façade: The decline was entirely due to a big drop of 6,100 in the labour force last month.

There were no new jobs created in August. Contrary to what the lower unemployment figure may suggest, the number of people working in the London area actually fell by 5,300.

Compared to August 2016, the labour force has decreased by 2,500.

The London area participation rate (adults working or looking for work) has fallen to 59.7 per cent, below the Canadian average of 65.7 per cent and well behind nearby cities such as Kitchener-Waterloo (71.5 per cent).

Across Canada, unemployment fell to 6.2 per cent from 6.3 per cent in July, with a gain of, 22,000, mainly part-time jobs

Most of the job gains were in Ontario, which gained 31,000 jobs, dropping provincial unemployment to 5.7 per cent, the second-lowest next to Manitoba.

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August Unemployment Rate

(July in brackets)

Canada: 6.2 per cent (6.3 per cent)

Ontario: 5.7 per cent (6.1 per cent)

London-St. Thomas Unemployment Rate

August 5.4 per cent

July 5.6 per cent

June 6 per cent

May 6.2 per cent

April 5.7 per cent

March: 6 per cent

February: 6.2 per cent

January: 6.9 per cent

December 2016: 6.9 per cent

November: 6.9 per cent

October: 6.7 per cent

September: 6.9 per cent

August: 7.2 per cent

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