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Employment Insurance Rises In May After Stable Trend, Up 14% YOY

CANADA DATA
  • Employment Insurance recipients +1.9% MOM in May to 464K; +14% YOY.
  • Statistics Canada: "Prior to the increase in May, the number of regular EI recipients had held relatively steady since September 2023."
  • Unemployment was 6.2% in May and ticked up to 6.4% in June, in line with BOC's view of slack emerging in the labor market.
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  • Employment Insurance recipients +1.9% MOM in May to 464K; +14% YOY.
  • Statistics Canada: "Prior to the increase in May, the number of regular EI recipients had held relatively steady since September 2023."
  • Unemployment was 6.2% in May and ticked up to 6.4% in June, in line with BOC's view of slack emerging in the labor market.