Statistics Canada says the unemployment rate rose to 5.4 per cent in June, reaching the highest level in over a year
Statistics Canada says the unemployment rate rose to 5.4 per cent in June, reaching the highest level in over a year
www.bnnbloomberg.ca Rate hike seen by all Canada's big 6 banks on strong jobs data - BNN Bloomberg
All six of Canada’s main commercial lenders now expect the Bank of Canada to raise interest rates next week after the country’s labor market tripled expectations in June.
The country added 60,000 jobs, driven by gains in full-time work, while the unemployment rate rose to 5.4 per cent, the highest since February 2022, Statistics Canada reported Friday in Ottawa. The figures beat expectations for a gain of 20,000 positions, but missed the forecast for a jobless rate of 5.2 per cent, according to the median estimate in a Bloomberg survey.
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