June 20, 2024 12:48 GMT
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.
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