Canada’s unemployment rate rose to 5.4% in June, its highest level in more than a year, as more people searched for work during the month, according to Statistics Canada.
In all, Canada’s economy added 60,000 net new jobs during June, driven by gains in full-time work.
The unemployment rate in Canada is now at its highest level since February 2022 when it was also at 5.4%.
Statistics Canada said there were 1.1 million people unemployed in June, an increase of 54,000 from the previous month.
June employment gains were concentrated among young men aged 15 to 24, rising by 31,000 positions. Employment among women of all age groups was little changed during the month.
StatsCan noted that fewer students were working throughout Canada at the beginning of this summer.
Among Canada’s provinces, employment increased the most in Ontario, adding 56,000 net new positions, and declined the most in Prince Edward Island, falling by 2,400 jobs. The employment picture was little changed in other provinces.
Among sectors of the economy, employment rose by 33,000 positions in wholesale and retail trade and manufacturing gained 27,000 jobs. Declines were observed in construction, down by 14,000 positions, and educational services, which declined by 14,000 jobs.
Average hourly wages across Canda rose 4.2% to $33.12 on an annualized basis in June, following an increase of 5.1% in May.
Total hours worked by Canadian employees increased 2% on a year-over-year basis during the month of June, said Statistics Canada.
