Record low number of Canadians receiving EI: StatCan
The number of Canadians receiving employment insurance benefits is at a record low. New numbers from Statistics Canada.
In January, 375,000 Canadians received regular EI benefits. This is a decrease of 20,000, or 5%, from December 2022. According to StatCan, this is the lowest number of his regular EI recipients since 1997, when the data first became available.
The number of EI recipients in January also fell 44% year-on-year, with the largest decline among young people. Her EI beneficiary numbers among females aged 15 to 24 fell by 73% from January 2022, and her EI beneficiary numbers among males aged 15 to 24 fell by 60%.
Quebec saw the biggest monthly decline in EI recipients, down 11% from December 2022. In PEI, EI claims were down he 8%, while in Alberta and Ontario they were down about 5%. .
Windsor, Ontario, Quebec City, and Oshawa, Ontario were the census metropolitan areas with the greatest declines in EI recipients. Across all three regions, EI claims decreased by approximately 14% compared to the previous month.
Since the spring of 2021, there has been a steady decline in the use of EI as COVID-19 restrictions have started to ease nationwide. The number of EI beneficiaries peaked in May 2021 with approximately 1.7 million beneficiaries.
The latest figures also show that Canada’s unemployment rate has experienced record lows or near record levels despite Bank of Canada rate hikes that were expected to boost unemployment as it tries to fight inflation. It was brought to me at a time when
early this month, StatCan finds that Canada’s unemployment rate is February was steady at 5%, just above the low of 4.9% recorded last summer. The Canadian economy also added 22,000 jobs in February and 150,000 jobs in January.