The national unemployment rate ticked higher again in August as the labour market continues to cool, prompting some economists to wonder if the Bank of Canada should be cutting interest rates faster.

Statistics Canada said Friday that the unemployment rate rose to 6.6 per cent, up from 6.4 per cent the month before, amid a gain of 22,000 net jobs. The increase reflected gains in part-time work but declines in full-time jobs.

The national unemployment rate now stands at its highest point since May 2017, according to StatCan, outside the pandemic years.

Canada’s jobless rate has continued to rise despite largely continuing to add positions as rapid population growth grows the overall labour pool.

https://globalnews.ca/news/10736478/jobs-unemployment-canada-august-2024/

 

The United States confirmed last week that 100% of new jobs have been given to illegal migrants while natural born citizens were put out of work. Canada does not release informative breakdowns to the public but our economy usually mirrors the US experience. Canadian federal government should release this information to the citizenry versus hiding behind the silence. https://goldtadise.com/?p=632645