Labour market report, May 2024

Quick facts

In May 2024:

• There were 13.2 million people in Ontario aged 15 years or older
  • 8.6 million (65.2%) were in the labour force. The labour force increased by 48,200 (0.6%) in May compared to April
  • 8.0 million (60.8%) were employed, up by 49,500 (0.6%) from April.
• Ontario's unemployment rate decreased to 6.7% in May from 6.8% in April and 582,000 people were unemployed, down by 1,300 (−0.2%) from April.

Employment increased in May

Employment in Ontario increased by 49,500 (0.6%) in May, after increasing by 25,000 (0.3%) in April. A total of 8,045,000 people were employed in Ontario in May.

Employment in Canada increased by 26,700 (0.1%) in May , after increasing by 90,400 (0.4%) in April. A total of 20,517,800 people were employed in Canada in May.

Chart 1 shows employment in Ontario from January 2015 to May 2024.

Full-time vs. part-time

Part-time employment increased by 48,400 (3.5%) in May, while full-time employment increased by 1,100 (0.0%).

Employment change by sex and age

Employment for men increased by 26,200 (0.6%) in May, after increasing by 28,800 (0.7%) in April. Total male employment was 4,237,300 in May. Employment for women increased by 23,300 (0.6%) in May, after decreasing by 3,800 (−0.1%) in April. Total female employment was 3,807,700 in May.

Youth (aged 15 to 24) employment increased by 27,900 (2.7%) in May for a total of 1,045,900, after increasing by 12,800 (1.3%) in April. Employment for people aged 25 to 54 increased by 5,200 (0.1%) to 5,277,300 in May, after increasing by 30,600 (0.6%) in April. Employment for those aged 55 and older increased by 16,400 (1.0%) to 1,721,800 in May, after decreasing by 18,400 (−1.1%) in April.

Employment change by industry

Ontario’s largest industry groups by employment in May were wholesale and retail trade (1,118,000 or 13.9% of total employment), health care and social assistance (1,013,000 or 12.6%), professional, scientific and technical services (888,300 or 11.0%), manufacturing (806,300 or 10.0%) and finance, insurance, real estate, rental and leasing (701,300 or 8.7%).

Health care and social assistance (24,000 or 2.4%), finance, insurance, real estate, rental and leasing (20,100 or 3.0%), wholesale and retail trade (15,800 or 1.4%) and information, culture and recreation (11,800 or 3.8%) led job gains in May.

Notable employment losses occurred in transportation and warehousing (−17,500 or −4.1%), manufacturing (−14,200 or −1.7%) and educational services (−8,700 or −1.5%) in May.

Chart 2 shows industries by employment change in Ontario, April 2024 to May 2024.

Employment change by occupation

Ontario’s largest occupational groups by employment in May were sales and service (1,659,500 or 20.9% of total employment), business, finance and administration (1,352,200 or 16.6%), trades, transport and equipment operators (1,129,700 or 13.9%) and occupations in education, law and social, community and government services (948,500 or 11.7%).

Six of the ten major occupational groups in Ontario had net employment gains in the first five months of 2024 when compared to the same period in 2023. Management occupations (90,200 or 11.1%) led job gains, followed by natural and applied sciences and related occupations (43,400 or 5.8%) and occupations in education, law and social, community and government services (33,500 or 3.7%).

Notable employment losses were recorded in sales and service occupations (−44,300 or −2.7%), trades, transport and equipment operators (−20,600 or −1.9%) and health occupations (−19,100 or −3.2%).

Chart 3 shows occupations by annual employment change in Ontario, May 2023 to May 2024.

Employment change in urban centres

In May 2024, employment in nine of the sixteen Ontario Census Metropolitan Areas (CMAs) was above their May 2023 level, led by Toronto (42,300 or 1.2%) and followed by Kitchener-Cambridge-Waterloo (21,200 or 6.2%), Hamilton (15,300 or 3.7%) and London (14,800 or 4.9%).

Notable employment losses in May were recorded in Belleville (−21,600 or −33.8%), Barrie (−10,800 or −8.0%) and St. Catharines-Niagara (−8,500 or −3.8%).

Chart 4 shows employment change for Ontario Census Metropolitan Areas (CMAs) from May 2023 to May 2024.

Unemployment rate decreased to 6.7%

Ontario’s unemployment rate decreased to 6.7% in May from 6.8% in April. This was the first month since January 2024 where the unemployment rate decreased. The provincial unemployment rate has increased significantly since falling to a near-record low in April 2023 (5.1%).

The Canadian unemployment rate increased to 6.2% in May from 6.1% in April. The national unemployment rate has also increased significantly since April 2023 (5.1%).

Chart 5 shows unemployment rates, Ontario and Canada, January 2015 to May 2024.

Unemployment rate by sex, age, visible minority status and Indigenous group

The unemployment rate for women remained at 6.5% in May. The rate for men was 7.0% in May, down from 7.1% in April.

For youth aged 15 to 24, the unemployment rate increased to 15.2% in May from 15.1% in April. The unemployment rate for individuals aged 25 to 54 fell to 5.5% in May from 5.7% in April. The unemployment rate for those aged 55 and older remained at 4.8% in May.

In Ontario, the unemployment rate among population groups designated as visible minorities was estimated at 9.1% in May compared to a 5.6% rate for those who are not visible minorities and did not identify as Indigenous (data are three-month moving averages and are not adjusted for seasonality).

In Ontario, the unemployment rate for the Indigenous population was estimated at 9.7% in May compared to a 6.9% rate for the non-Indigenous population. The unemployment rate for the Indigenous population includes the rate for First Nations people living off reserve (10.5%) and individuals who identify as Métis (7.7%) (data are three-month moving averages and are not adjusted for seasonality).

Unemployment rate by urban centre

In May, the average unemployment rate decreased from April in nine of the sixteen Ontario Census Metropolitan Areas (CMAs). The largest decreases were seen in Peterborough (6.0% in April to 4.5% in May), Thunder Bay (4.2% to 3.4%), Kingston (6.4% to 5.8%) and Barrie (6.5% to 6.1%).

Six CMAs had average unemployment rates that increased in May, led by Belleville (4.8% in April to 5.4% in May), Hamilton (6.6% to 7.0%) and Ottawa-Gatineau (5.2% to 5.5%).

The average unemployment rate was unchanged in St. Catharines-Niagara (7.9%) in May.

Chart 6 shows the average unemployment rate for Ontario Census Metropolitan Areas (CMAs) in May 2024.

Long-term unemployment

In May, an estimated 111,900 Ontarians or 19.2% of all unemployed people were unemployed for 27 weeks or longer (long-term unemployed). This compared to 132,900 Ontarians or 22.8% of all unemployed people in April and 80,800 or 17.2% of all unemployed people a year earlier in May 2023.

The average time in unemployment was 18.9 weeks in May, below the average in April (19.4 weeks) but above the average in May 2023 (18.6 weeks).

Chart 7 shows Ontario’s long-term unemployment (27 weeks or more) as a percentage of total unemployment, January 2015 to May 2024.

Average hourly wages by sex, age and industry

The average hourly wage rate in Ontario for employees was $35.72 in May, above the average rate across Canada ($34.94). Ontario’s average hourly wage rate in May rose by 4.2% on a year-over-year basis (by $1.45 from $34.27 in May 2023) which matched the 4.2% increase in April.

May’s wage growth (4.2%) was well above the growth seen in the Ontario Consumer Price Index (CPI) as of April (2.7%). The CPI is a measure of inflation that represents changes in prices for goods and services as experienced by consumers.

Chart 8 shows the year-over-year percentage change in Ontario’s average hourly wage rate and the Ontario Consumer Price Index (CPI), January 2015 to May 2024.

The average hourly wage rate was $33.11 for women in May, rising by 3.1% ($0.98) from $32.13 in May 2023. For men, the average hourly wage rate was $38.22, an increase of 5.2% ($1.89) from $36.33 a year earlier.

For youth aged 15 to 24, the average hourly wage rate was $21.50 in May, an increase of 7.6% ($1.51) from $19.99 in May 2023. The average hourly wage rate for individuals aged 25 to 54 rose to $38.49 in May, up 3.1% ($1.15) from $37.34 a year earlier. The average hourly wage rate for those aged 55 and older increased by 5.2% ($1.84) to $37.28 in May from $35.44 a year earlier.

In May, the industries with the largest increases in average hourly wage rates compared to a year earlier were:

1. Utilities: +16.8% ($8.04) to $55.99
2. Other services (except public administration): +7.8% ($2.16) to $30.00
3. Construction: +7.6% ($2.68) to $37.74

Industries with the largest decreases in average hourly wage rates in May compared to a year earlier:

1. Agriculture: −10.1% (−$2.58) to $22.18
2. Business, building and other support services: −4.4% (−$1.18) to $25.64
3. Forestry, fishing, mining, quarrying, oil and gas: −3.1% (−$1.42) to $44.31

Changes in average hourly wages by industry are the result of multiple factors, including wage growth and shifts in the composition of employment by job tenure and occupation.

Download data

Source: Statistics Canada, Labour Force Survey

May 2024 Labour Market Report

• CSV, Chart 1, employment in Ontario from January 2015 to May 2024, 1Kb
• CSV, Chart 2, industries with highest and lowest employment change in Ontario, April 2024 to May 2024, 2Kb
• CSV, Chart 3, employment change for occupations in Ontario from May 2023 to May 2024, 2Kb
• CSV, Chart 4, employment change for Ontario Census Metropolitan Areas (CMAs) from April 2024 to May 2024, 2Kb
• CSV, Chart 5, unemployment rates, Ontario and Canada, January 2015 to May 2024, 2Kb
• CSV, Chart 6, average unemployment rates for Ontario Census Metropolitan Areas (CMAs), May 2024, 2Kb
• CSV, Chart 7, Ontario’s long-term unemployed (27 weeks or more) as a percentage of total unemployment, January 2015 to May 2024, 2Kb
• CSV, Chart 8, year-over-year percentage change in Ontario’s average hourly wage rate and the Ontario Consumer Price Index (CPI), January 2015 to May 2024, 2Kb