Canada's Housing Bubble

Jul 24, 2010 QMI Agency cnews.canoe.ca

The number of Canadians receiving regular employment insurance payments jumped in May, marking the first increase in eight months, government data released Thursday shows.

EI beneficiaries soared by 8,600 to hit 680,100 in the month, Statistics Canada said. Ontario and Quebec saw the biggest rise in the numbers but gains were recorded in most provinces.

In May, 231,000 initial and renewal claims were received, an increase of 2,100 over April.

Since peaking in June 2009, EI payments have fallen to offset roughly one half of the spike seen during the recession.