Canada’s unemployment rate unchanged at 4.9% in July: Statistics Canada – National

Canada’s unemployment rate unchanged at 4.9% in July: Statistics Canada – National

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In this article, you will get all the information regarding Canada’s unemployment rate unchanged at 4.9% in July: Statistics Canada – National

The national unemployment rate held steady at 4.9 per cent in July, according to Statistics Canada, which said overall employment was “little changed.”

Friday’s Labour Force Survey results showed the country shed 31,000 jobs last month.

Average hourly wages were also up 5.2 per cent in the month, the same pace recorded in June.

The federal agency previously reported the unemployment rate hit a record-low of 4.9 per cent in June.

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Canada currently has more than one million job vacancies and is grappling with an ongoing labour shortage largely driven by demographic changes in the population.

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The Bank of Canada will be paying attention to the latest labour force data as it prepares for its next rate decision in September, when it is expected to increase its benchmark interest rate once more.

— with files from The Canadian Press

© 2022 Global News, a division of Corus Entertainment Inc.

Canada’s unemployment rate unchanged at 4.9% in July: Statistics Canada – National

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