Sault Ste. Marie Real Estate Board

Ontario Employment Trends

The unemployment rate in Ontario was 6.8% as of May 2024, up 0.1% from the previous month. The unemployment rate stood 6% below the peak from June 2020 and is below the long-run average.

There were 13,300 more full-time jobs in May 2024 compared to a month earlier. A gain of 20,300 part-time positions led to an increase of 33,600 total jobs in May.

Full-time employment was still down 4,600 jobs from the peak in October 2023 but stood 35,600 jobs above the trough in March 2024.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.

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