If you look at the American data more closely, there's been a 24% increase in suicide in the United States in the last 15 years, driven by an increased rate among white people of living in newly economically depressed regions. There's a clear correlation between job losses, unemployment, social despair, and suicide.
I would note, however, that in Nunavut, many of our smallest communities are among the communities with our lowest suicide rate. It's not a simple correlation.