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Updated · Bloomberg · Jul 10Canada Adds 18,200 Jobs in June as Unemployment Falls to 6.5%
3 articles · Updated · Bloomberg · Jul 10Summary
- 18,200 jobs were added in Canada in June, extending May’s 87,800 gain and pushing the unemployment rate down to 6.5% from 6.6%.
- Service industries and part-time positions drove the increase, while the employment rate edged up to 60.8% and the participation rate held at 65.0%.
- Young workers saw some relief, with youth unemployment falling to 12.7%, even as manufacturing shed 17,000 jobs amid pressure from US tariffs.
- The June figures beat expectations for about 10,000 new jobs and suggest Canada’s labor market is showing early signs of tightening.
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?