Unemployment rate in Ontario drops to lowest in 16 years

Ontario's unemployment rate is now sitting at 5.8 per cent, the lowest it's been since January 2001, Statistics Canada reported Friday. 

The monthly labour force survey puts Ontario's jobless rate well below the national average of 6.5 per cent, itself the lowest national unemployment rate since October 2008.

Statistics Canada says Ontario has added 96,800 full-time jobs in the past year, while the number of part-time jobs has actually decreased by 10,200.

The only provinces with unemployment rates lower than Ontario are Manitoba (5.4. per cent) and British Columbia (5.5 per cent).

There are still 437,000 people looking for work in the province, according to Statistics Canada.