Canada’s economy lost 2,200 jobs in June, and the jobless rate ticked up to 5.5 per cent because more people were looking for work, according to Statistics Canada.
Jobless rate ticks up to 5.5%, although past year has seen 421,000 jobs added
Bioreports News ·
Canada’s economy lost 2,200 jobs in June, and the jobless rate ticked up to 5.5 per cent because more people were looking for work, according to Statistics Canada.
Alberta added 10,000 jobs, while Saskatchewan added 2,500, figures released Friday show.
On the flip side, Manitoba lost 5,200 jobs, while Newfoundland and Labrador lost 2,000. Everywhere else, the jobs number was largely unchanged.
Economists were expecting the economy to have added almost 10,000 jobs.
Despite the weak showing last month, over the past 12 months, Canada’s economy has cranked out 421,000 new jobs.
Although there was a slight decline in the total number of jobs, not all the numbers in the June report were bleak. More people 55 and older reported having a job during the month, as that age cohort added 22,000 jobs. But that was offset by 18,000 fewer jobs among men in their core working years of 25 to 54.
The summer job market also seems to be humming along nicely.
Statistics Canada reported the jobless rate for students between ages 20 and 24 declined to eight per cent, the lowest level since record-keeping began in 1977.
