Free Trial

Employment Insurance -2.8% In April But +15% From Year Earlier

CANADA DATA
  • Employment Insurance recipients -2.8% MOM in April to 456K.
  • This is the second month of decline and the largest since Feb 2023. EI increased from Feb till Dec last year, and stabilized in recent months.
  • Payouts +15.1% YOY remains in line with BOC's view of slack emerging in the labor market.
  • Unemployment was 6.1% in April and ticked up to 6.2% in May, while there were employment gains, these have been offset by population growth.
72 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Employment Insurance recipients -2.8% MOM in April to 456K.
  • This is the second month of decline and the largest since Feb 2023. EI increased from Feb till Dec last year, and stabilized in recent months.
  • Payouts +15.1% YOY remains in line with BOC's view of slack emerging in the labor market.
  • Unemployment was 6.1% in April and ticked up to 6.2% in May, while there were employment gains, these have been offset by population growth.