Canada’s Unemployment Rate Unchanged At 6.4% In July

Published 2024-08-09, 05:55 a/m
© Reuters.  Canada’s Unemployment Rate Unchanged At 6.4% In July
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Baystreet.ca - Canada’s unemployment rate was unchanged in July at 6.4%, the third consecutive month in which the country’s labour force was flat.

Statistics Canada said that overall employment was little changed during July as the country experienced a net loss of 2,800 jobs.

In the month, employment decreased among women (down 41,000) and men (down 15,000) aged 55 to 64. However, it rose among men aged 25 to 54 (up 48,000).

Among sectors of the economy, employment declined in wholesale and retail trade, and in finance, insurance and real estate.

Offsetting those losses were employment gains in public administration, transportation and warehousing, and utilities.

Across the country, employment dropped in Manitoba and Nova Scotia while it rose in Ontario and Saskatchewan. Job growth was little changed in the rest of Canada.

Total hours worked nationwide rose 1.9% year over year in July. Average hourly wages among employees increased 5.2% to $34.97, following growth of 5.4% in June of this year.

Statistics Canada said that employment in Canada has now held steady for three consecutive months.

This content was originally published on Baystreet.ca

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