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December 2024 Employment Insurance and Job Market Shifts

Justin Barber

20 Feb 2025 — 1 min read

In December 2024, the latest statistics from Statistics Canada indicate changes in Employment Insurance (EI) across Canada. The number of Canadians receiving regular EI benefits experienced a slight decrease of 0.4%, equating to about 1,900 fewer recipients compared to the previous month. This continued a downward trend observed since August 2024.

On an annual comparison, the data show an increase of 12,000 individuals, a 2.6% rise, in regular EI beneficiaries compared to December 2023. Concurrently, the Canadian employment landscape saw a positive shift with an increase of 91,000 jobs, marking a 0.4% rise in employment during the same month. The unemployment rate dipped by 0.2 percentage points, bringing it to 6.7%.

These statistics reflect ongoing fluctuations in Canada's labor market, potentially due to variations in job separation rates and the necessity of accumulative insurable hours to qualify for EI benefits. All data referenced are seasonally adjusted, as reported by Statistics Canada, providing an accurate portrayal of monthly economic trends.

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