Canada’s Unemployment Rate Climbs to 5.4 Percent
SAINT JOHN — Canada’s unemployment rate rose to 5.4 per cent in June, an increase of 0.2 percentage points.
Statistics Canada said the increase brought the rate to its highest level since February 2022. It also marked the second month in a row that the country’s unemployment rate went up following a similar increase in May.
StatsCan said the country added 60,000 jobs last month, driven by gains in full-time employment. But the unemployment rate still ticked up as there were more people searching for work.
According to StatCan, employment gains were concentrated among men between the ages of 15 and 54. Employment rose in wholesale and retail trade, manufacturing, health care and social assistance, and transportation and warehousing.
On the flip side, declines were recorded in the construction, educational services, and agriculture sectors.
StatCan also noted that average hourly wages rose 4.2 per cent on a year-over-year basis in June to $33.12, the slowest growth since May 2022. Year-over-year growth in average hourly wages had hovered between 5.1 per cent and 5.4 per cent from February to May of this year.
At look at some of the provincial numbers
New Brunswick lost 1,600 part-time jobs and added 100 full-time positions for a net decrease of 1,500. StatCan said that caused the unemployment rate to climb 0.3 percentage points to 6.4 per cent.
Nova Scotia added 5,900 full-time jobs and lost 2,400 part-time positions for a net increase of 3,600. But the unemployment rate jumped seven-tenths of a percentage point to 6.4 per cent as more people were looking for work.
Prince Edward Island lost 2,400 jobs as the unemployment rate climbed to 8.2 per cent from 7.2 per cent the previous month.
In Ontario, the province added 94,600 full-time jobs but lost 38,800 part-time positions for a net increase of 55,800. But just like Nova Scotia, with more people looking for work, the unemployment rate climbed 0.2 percentage points to 5.7 per cent.
The full report can be found on Statistics Canada’s website.
Brad Perry is the Regional News Director for New Brunswick at Acadia Broadcasting, Huddle content partners.