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July 18, 2024EMPLOYMENT INSURANCE, MAY 2024 Monthly (May 2024 vs April 2024, seasonally adjusted regular beneficiaries)
In May 2024, there were 21,310 Nova Scotians in receipt of regular employment insurance benefits (seasonally adjusted). Nova Scotia's seasonally adjusted regular employment insurance usage increased by 240 (+1.1%) from April to May. Last month's results (a decline of 15.8%) appeared to be an anomaly that has been revised to a decline of 2.5%.
There were 463,890 Canadians that received regular employment insurance benefits in May 2024 (seasonally adjusted), an increase of 8,690 (+1.9%) from April 2024.
When compared to April 2024, seven provinces reported increased in regular beneficiaries. The largest increase in percentage terms was reported in Saskatchewan. The fastest decline was in Newfoundland and Labrador.
The number of employment insurance beneficiaries amounted to 3.9% of the labour force in Nova Scotia in May 2024. Nationally, the share of beneficiaries was 2.1% of the labour force.
Year-to-date (January-May 2024 vs January-May 2023)
Comparing the first five months of 2024 to the same period in 2023, Nova Scotia's employment insurance usage was down by 0.2%. National employment insurance usage was up by 17.7% with gains in seven provinces. The largest gain in employment insurance usage was in Ontario, while the largest decline was in Newfoundland and Labrador.
Year-over-year (May 2024 vs May 2023, seasonally adjusted regular beneficiaries)
Use of employment insurance (as a share of the labour force) was lower for youth aged 15-24 and higher for workers aged 55 and older. Across all age cohorts, male use of employment insurance was higher as a share of the labour force than female use of employment insurance.
Use of employment insurance was down for females (youth and core-aged) as well as older males (ages 55+).
Comparing unadjusted regular beneficiaries for May 2024 against May 2023, use of employment insurance declined for seven counties with the fastest decline for Shelburne and Yarmouth counties. The fastest rise in employment insurance was for Queens county.
Source: Statistics Canada. Table 14-10-0011-01 Employment insurance beneficiaries (regular benefits) by province and territory, monthly, seasonally adjusted; Table 14-10-0323-01 Employment insurance beneficiaries by census division, monthly, unadjusted for seasonality; Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months
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