Latest news with #joblessrate
Yahoo
6 days ago
- Business
- Yahoo
Cuts and fewer job seekers driving Windsor unemployment decline, say experts
Windsor's jobless rate may have dropped by more than a full percentage point in a month, but a local labour market expert says the decline came for the wrong reasons. "We have a shrinking labour force and a lower participation rate that can slow economic growth for us and strain employers who are looking for workers," said Justin Falconer, CEO of Workforce WindsorEssex. Data from Statistics Canada released last week shows Windsor's unemployment rate fell to 10.2 per cent in July from 11.2 per cent in June, when the city had the highest jobless rate in Canada. Kelowna, B.C. now holds that title. Falconer says the region's labour force participation rate fell to 62.5 per cent, the lowest in 17 months. That means 3,000 fewer people were looking for work last month. He also noted the working age population, defined as anyone 15 years or older, has declined by 300 people for the first time since 2011. Falconer says reasons for people not seeking work range from pessimism about the labour market to the summer season, as well as the ongoing U.S. trade dispute affecting manufacturing, transportation and warehousing sectors. Education and healthcare hit hard Overall, Windsor-Essex lost 2,100 jobs in July. The steepest decline was in educational services, which saw 3,200 fewer positions in public and private teaching roles. Falconer says while summer breaks play a role, recent federal caps on international enrolment have prompted colleges and universities to reduce staff. Healthcare and social assistance also saw significant declines, with 1,400 jobs lost. The construction sector lost 900 jobs. Manufacturing was one of the few bright spots, adding 700 jobs despite U.S. trade disruptions. Public service jobs going unfilled Jennifer Van Zetten, the regional vice-president for OPSEU Windsor, confirms that public service positions are going unfilled, particularly in healthcare, education and social services. "These aren't the stable, well funded jobs they once were," she said. Van Zetten says recent provincial cuts have led to thousands of layoffs in Ontario's college system, including accessibility counselors and staff in programs such as dental, fine arts and journalism. OPSEU estimates nearly 10,000 faculty and staff positions have been cut or are expected to be lost by the end of this year, along with about 600 programs cancelled or suspended. Bright spot: male youth employment on the rise The drop in male youth unemployment was particularly significant for Windsor. Falconer says the rate fell from 21.9 per cent in June to 16.2 per cent in July, with an increase of 2,200 full time positions for young men. Female youth unemployment rose from 11.8 per cent to 14.5 per cent.
CBC
6 days ago
- Business
- CBC
Cuts and fewer job seekers driving Windsor unemployment decline, say experts
Windsor's jobless rate may have dropped by more than a full percentage point in a month, but a local labour market expert says the decline came for the wrong reasons. "We have a shrinking labour force and a lower participation rate that can slow economic growth for us and strain employers who are looking for workers," said Justin Falconer, CEO of Workforce WindsorEssex. Data from Statistics Canada released last week shows Windsor's unemployment rate fell to 10.2 per cent in July from 11.2 per cent in June, when the city had the highest jobless rate in Canada. Kelowna, B.C. now holds that title. Falconer says the region's labour force participation rate fell to 62.5 per cent, the lowest in 17 months. That means 3,000 fewer people were looking for work last month. He also noted the working age population, defined as anyone 15 years or older, has declined by 300 people for the first time since 2011. Falconer says reasons for people not seeking work range from pessimism about the labour market to the summer season, as well as the ongoing U.S. trade dispute affecting manufacturing, transportation and warehousing sectors. Education and healthcare hit hard Overall, Windsor-Essex lost 2,100 jobs in July. The steepest decline was in educational services, which saw 3,200 fewer positions in public and private teaching roles. Falconer says while summer breaks play a role, recent federal caps on international enrolment have prompted colleges and universities to reduce staff. Healthcare and social assistance also saw significant declines, with 1,400 jobs lost. The construction sector lost 900 jobs. Manufacturing was one of the few bright spots, adding 700 jobs despite U.S. trade disruptions. Public service jobs going unfilled Jennifer Van Zetten, the regional vice-president for OPSEU Windsor, confirms that public service positions are going unfilled, particularly in healthcare, education and social services. "These aren't the stable, well funded jobs they once were," she said. Van Zetten says recent provincial cuts have led to thousands of layoffs in Ontario's college system, including accessibility counselors and staff in programs such as dental, fine arts and journalism. OPSEU estimates nearly 10,000 faculty and staff positions have been cut or are expected to be lost by the end of this year, along with about 600 programs cancelled or suspended. The drop in male youth unemployment was particularly significant for Windsor. Falconer says the rate fell from 21.9 per cent in June to 16.2 per cent in July, with an increase of 2,200 full time positions for young men.
Bloomberg
01-08-2025
- Business
- Bloomberg
US Adds 73,000 Jobs After Sharp Down Revisions in Prior Months
By Updated on Save US job growth cooled sharply over the past three months, further evidence that the labor market is shifting into a lower gear amid widespread economic uncertainty. Payrolls increased 73,000 in July after the prior two months were revised down by nearly 260,000, according to a Bureau of Labor Statistics report out Friday. The jobless rate ticked up to 4.2%.
Yahoo
01-08-2025
- Business
- Yahoo
Japan June jobless rate unchanged at 2.5%
TOKYO (Reuters) -Japan's jobless rate in June was unchanged from the previous month at 2.5%, government data showed on Friday. Economists' median forecast was also for 2.5%. The jobs-to-applicants ratio in June fell to 1.22 from 1.24 in May. The median forecast was 1.25. Sign in to access your portfolio
Yahoo
17-07-2025
- Business
- Yahoo
UK unemployment jumps to highest since 2021 as wage growth slows
Britain's jobless rate has struck its highest level for four years as workers also faced another slowdown in wage growth, official figures have shown. The Office for National Statistics (ONS) said the rate of UK unemployment increased to 4.7% in the three months to May, from 4.6% in three months to April. It said this marked the highest level since June 2021. We've published the latest labour market figures. Commenting on today's figures, ONS Director of Economic Statistics Liz McKeown said: (quote 1 of 2) Read the Labour market overview ➡ — Office for National Statistics (ONS) (@ONS) July 17, 2025 Meanwhile, average earnings growth, excluding bonuses, slowed to 5% in the period to May to its lowest level for almost three years. The figures point towards further pressure in the UK labour market, days after the governor of the Bank of England warned that the Bank is prepared to make larger interest rate cuts if it sees that the job market slowing. ONS director of economic statistics Liz McKeown said: 'The labour market continues to weaken, with the number of employees on payroll falling again, though revised tax data shows the decline in recent months is less pronounced than previously estimated. 'Pay growth fell again in both cash and real terms, but both measures remain relatively strong by historic standards.'
