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- Canada’s economy loses 6,400 jobs in June
Canada’s economy loses 6,400 jobs in June
Statistics Canada released the labour market data on Friday. Canada's unemployment rate remained unchanged at 6.8% in June. Analysts had expected the unemployment rate to rise to 6.9%.
Employment rose by 33,000 in the second quarter, after an increase by 63,000 in the first quarter.
The number of employed people fell by 6,400 jobs in June, beating expectations for a fall of 10,000 jobs, after a 58,900 rise in May.
The decline was driven by a drop in part-time employment. Part-time employment in May fell by 71,000 jobs, while full-time work climbed by 65,000.
The labour participation rate decreased to 65.7% in June from 65.9 in May.
The Bank of Canada monitors closely the labour participation rate.
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