New data from Statistics Canada shows Guelph’s unemployment rate fell to 4.5 per cent in November, down from 5.2 per cent in October.
Data reported Friday shows that 400 jobs were added last month but 200 people left the labour force. The number of people who claimed unemployment insurance because they are actively looking for work fell by 600.
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The participation rate, which measures the proportion of the working-age population that is working or looking for work, fell slightly to 70.2 per cent from 70.4 per cent in November.
September marks the fifth consecutive month the unemployment rate has fallen in Guelph.
In 2021, the jobless rate fell as low as 6.0 per cent in February before climbing to 9.2 per cent in June.
Canada’s economy posted an unexpectedly large job gain in November, driving the jobless rate down.
The Canadian economy added a net 153,700 jobs in November, well above analysts’ expectations of 35,000, while the unemployment rate dropped to 6.0 per cent, Statistics Canada said.