Statistics Canada to release June jobs figures after surprise gain in May
The gain topped economists’ forecasts for 10,000 jobs and left the Bank of Canada with one last labour reading before next week’s rate decision.
- Statistics Canada is set to publish fresh employment data this morning, with a Reuters poll of economists expecting Canada added 10,000 jobs in June, keeping the unemployment rate steady at 6.6 per cent.
- The upcoming release follows an unexpected gain of 88,000 jobs in May, which partially offset earlier losses; RBC economists note the labour market remains volatile despite gradual easing since last summer.
- This report serves as the Bank of Canada's final major economic indicator before its next interest rate decision on Wednesday, though strategists said the stable employment data is "unlikely to change the imminent BoC outlook."
- New figures revealed Ontario lost 16,700 jobs, keeping the provincial unemployment rate steady at 7 per cent, after Statistics Canada reported gains of more than 84,000 in previous months.
- Ontario NDP MPP Catherine Fife claimed the data demonstrates that the Ford government is failing to deliver on the economy, while Ontario Green Party Leader Mike Schreiner argued the province made wrong choices regarding public funding.
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27 Articles
Canada unemployment rate falls to 6.5% in June as youth hiring improves
A better start to the youth summer jobs market helped the economy record steady employment gains in June, Statistics Canada said Friday. Employers added 18,000 jobs last month, the agency said, mostly in part-time and private sector work. That pushed the unemployment rate down a tenth of a point to 6.5 per cent, back to where it stood in January. 🎧 Local news stories that matter most to youSubscribe on Spotify, Apple Podcasts and wherever you…
Canada's unemployment rate falls to 6.5% in June as labor market stabilizes
Canada's stabilizing labor market may temper aggressive monetary easing, impacting economic policy but leaving digital assets largely unaffected. The post Canada’s unemployment rate falls to 6.5% in June as labor market stabilizes appeared first on Crypto Briefing.
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