Canadian Employment (May 2023) - June 12, 2023
Canadian employment fell by 0.1 per cent to 20.11 million in May. The Canadian unemployment rate rose to 5.2 per cent after holding steady at 5 per cent since December. A decline in employment of 77,000 for youths (aged 15 to 24) more than offset a 63,000 rise in employment for middle-aged workers (aged 25 to 54). Total hours worked were up 2.2 per cent year over year, while average hourly wages were up 5.1 per cent from May of last year.
Employment in BC was little changed in May, rising 0.1 per cent to 2.781 million, while rising by 0.7 per cent in Metro Vancouver to 1.575 million. The unemployment rate held steady at 5 per cent in BC and fell to 4.9 per cent in Metro Vancouver.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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