Canada’s unemployment rate increased by two-tenths in June and settled at 5.4%.

an average unemployment in Canada It rose by a tenth in June and settled at 5.4%, despite the creation of 60,000 jobs, according to data released Friday by Statistics Canada’s (EC) public agency.

In May, the Canadian economy devastated 17,000 Careers.

The European Commission said in a statement that the increase in unemployment in the country is the result of an increase in the number of people looking for work.

sectors Retail, manufacturing, health and social care In addition to transportation and warehousing, it was those that created the most jobs while those in construction, educational services and agriculture suffered losses.

June data also indicates a wage increase of 4.2%. In May, the salary increase was 5.1%.

he Bank of Canada A new announcement on interest rates is scheduled for July 12, and analysts pointed out this Thursday that the employment data for the month of June does not facilitate the work of the monetary authority.

On the other hand, the high unemployment rate is a sign that the Bank of Canada’s policy of raising interest rates is calming the economy as expected.

But the elasticity of wage increases continues to drive inflationary pressures in the Canadian economy.

In June, the Bank of Canada decided to increase interest rates by a quarter of a point, to 4.75%, which is the ninth rise since January 2022, given the continued “increased demand” in Economy.

See also  Perfect love: What this father was willing to do for his son's health in Canada

Sacha Woodward

"Wannabe writer. Lifelong problem solver. Gamer. Incurable web guru. Professional music lover."

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top