CB Unemployment Down Slightly In May
Cape Breton’s unemployment rate went down slightly last month. The three-month moving average from May was 16.3%– three tenths of a percentage point below April and 1.2% below May of last year. Unemployment numbers also went down provincially last month, when Nova Scotia recorded a seasonally adjusted figure of 8.8%– down from 9.3 in April. Nationally, unemployment stayed steady at 6.8% for the fourth straight month. The country saw 59,800 net new jobs in May, though Stats Canada says that the jobless figure remained the same because more people entered the workforce. Last month’s job gains offset losses in April, though the numbers come after Statscan said last week that the economy had contracted at an annualized rate of 0.6 percent in the first quarter of 2015.
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