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

📆 2024-08-09 16:12:00

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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.

📆 2024-08-09 16:12:00
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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.

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