According to the data released by Statistics Canada, the landscape of regular Employment Insurance (EI) benefits in Canada exhibited a complex interplay of stability and change across various demographics and regions in March.
National Overview and Year-Over-Year Changes
In March 2024, approximately 470,000 Canadians were receiving regular EI benefits, a slight increase of 0.1% (or 400 individuals) compared to February. This minor month-over-month change follows a notable rise in EI recipients from February to December 2023, during which the number increased by 78,000 (+19.8%). On an annual basis, there was an 18.9% increase, equating to 75,000 more beneficiaries compared to March 2023.
This period also saw a rise in the national unemployment rate, which climbed by 0.3 percentage points to 6.1% in March 2024, cumulatively up by 1.0 percentage points since the previous year. The fluctuations in EI beneficiary numbers often mirror the dynamics within different groups transitioning into and out of employment or exhausting their benefits.
Demographic Breakdown
Youth (Aged 15-24)
The number of young Canadians receiving regular EI benefits experienced a minor decline in March, with a reduction of 500 recipients (-1.0%), primarily among young men. Despite this, the annual increase in youth EI recipients was significant, with young men seeing a 33.9% rise (+8,100) and young women a 15.9% increase (+1,800). The youth unemployment rate surged, reaching 13.4% for young men and 11.7% for young women, reflecting increases of 3.3 and 2.9 percentage points respectively.
Core-Aged Workers (25-54)
For core-aged workers, the month-over-month change in EI recipients was minimal. However, on a year-over-year basis, the figures were more substantial, with core-aged men seeing a 21.5% increase (+33,000) and core-aged women a 19.3% rise (+19,000).
Older Workers (55+)
The number of older workers on EI remained relatively unchanged for the third consecutive month. Compared to the previous year, there was a 13.9% increase (+9,700) for older men and a 9.0% rise (+3,800) for older women, although these increases were smaller in proportion compared to the younger and core-aged groups.
The EI trends also varied significantly across different provinces.
Declines in Atlantic Provinces and British Columbia
In Newfoundland and Labrador, the number of EI recipients fell by 600 (-2.0%) in March, marking the second decline in three months. The most considerable drop was among individuals aged 55 and older. Year-over-year, the province saw a 3.6% decrease (-1,100) in EI beneficiaries. Similarly, Prince Edward Island and Nova Scotia experienced declines of 1.5% and 1.4% respectively in March, though both provinces saw increases on an annual basis.
British Columbia reported a decrease of 600 recipients (-1.2%) in March, continuing a downward trend over four months. Youth and older workers both saw declines, yet the province recorded a 19.6% year-over-year increase (+7,800). In the Vancouver census metropolitan area, the number of EI recipients dropped by 1.6% (-300).
Increase in Ontario
Ontario witnessed a rise in EI beneficiaries, increasing by 1,800 (+1.2%) in March, sustaining an upward trend since December 2022. The unemployment rate in Ontario grew from 5.3% in December 2022 to 6.7% in March 2024. The most significant rise was among core-aged women (+3.1%; +1,300), with a smaller increase among older men and women. Toronto saw the highest increase among Ontario’s CMAs, with a 2.9% rise (+1,700).