News Formal

Students, recent immigrants hit hard by weakening job market, StatCan data suggests

  • 📰 SooToday
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 85%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

OTTAWA — Students are facing a particularly challenging summer job market while recent immigrants are disproportionately affected by weakening labour market conditions in the country, Statistics Canada’s latest employment figures show.

The federal agency’s July labour force survey released on Friday says the overall jobless rate held steady at 6.4 per cent last month as the economy shed a modest 2,800 jobs.

Amidst historically high interest rates, the unemployment rate has climbed 0.9 percentage points over the last year. Statistics Canada says that’s the lowest employment rate for returning students since July 1997, outside of July 2020 during the COVID-19 pandemic. The increase in unemployment is particularly stark for recent immigrant youth, who face a jobless rate of 22.8 per cent. That’s up 8.6 percentage points from a year ago.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

StatCan to release July jobs report as economists expect more labour market weaknessOTTAWA — Statistics Canada is set to release its July labour force survey today.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »