Updated
Updated · darpanmagazine.com · Jul 10
Canada's Jobless Rate Falls to 6.5% as Employment Rises by 18,200 in June
Updated
Updated · darpanmagazine.com · Jul 10

Canada's Jobless Rate Falls to 6.5% as Employment Rises by 18,200 in June

3 articles · Updated · darpanmagazine.com · Jul 10

Summary

  • 1.469 million Canadians were unemployed in June, down from 1.482 million in May, while the number working edged up to 21.14 million.
  • The employment rate rose to 60.8% from 60.7% and the participation rate held at 65.0%, pointing to modest labor-market improvement rather than a drop in job seeking.
  • Youth unemployment showed the sharpest improvement, falling to 12.7% from 13.4%, while unemployment for men aged 25 and older dipped to 5.5%.
  • Women aged 25 and older were the exception, with their unemployment rate rising to 5.5% from 5.3%, tempering the broader June gains.

Insights

Canada's economy is leaving a recession, so why does its central bank still see weakness in the job market?
With immigration slowing and population declining, is Canada heading for a severe labor shortage and higher wages?
As US trade uncertainty looms, which Canadian industries are most at risk of job losses for the rest of this year?