Canada’s unemployment rate rises to 6.6% in August amid challenging summer job market

📆 2024/09/06 14:56:00
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OTTAWA — Canada’s unemployment rate increased to 6.6 per cent in August as students continued to face a difficult summer hiring season.

Statistics Canada’s labour force survey on Friday showed the economy added a modest 22,000 jobs last month, lagging the pace of population growth.Employment last month rose in educational services, health care and social assistance and finance, insurance, real estate, rental and leasing.

Between May and August, the unemployment rate for students was 16.7 per cent on average, up from 12.9 per cent last year. The latest rise in unemployment comes days after the Bank of Canada delivered its third consecutive interest rate cut and signalled more would likely be on the way.

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