Canadian Employment (May 2021) - June 4, 2021

Canadian Employment (May 2021) - June 4, 2021

Canadian employment fell by 68,000 jobs in May (-0.4%, m/m), led by a decline of 54,000 in the number of part-time jobs. This was the second consecutive month of declines amid third-wave restrictions, following a drop of 207,000 jobs in April. The level of Canadian employment is now 3.0% (-571k) below its February 2020 pre-pandemic level. The decline was driven by Nova Scotia and Ontario, which implemented stay-at-home orders last month. The unemployment rate rose 0.1% to 8.2%.

In BC, employment fell by 1,900 (-0.1% m/m), following a decline of 43,100 in April. Despite the slight drop in employment, the unemployment rate also fell slightly from 7.1% to 7.0%, due to a decrease in the labour force participation rate (from 65.1% to 64.9%). Job losses slowed in May due to the reopening of many indoor and outdoor activities on May 25^th across the province.  

Link: https://mailchi.mp/bcrea/canadian-employment-may-2021-june-4th-2021

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BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.