adplus-dvertising
Connect with us

Business

Canada unemployment rate: 5.5% increase July

Published

 on

OTTAWA –

Canada’s unemployment rate rose again last month, as the economy struggles to create enough jobs to match the pace of population growth.

Statistics Canada reported Friday employment was little changed in July, falling by 6,400 jobs.

Meanwhile, the unemployment rate ticked up to 5.5 per cent amid population growth.

300x250x1

As Canada’s population continues to grow rapidly, rising unemployment signals the economy isn’t creating enough jobs to absorb a larger workforce.

July marks the third consecutive month that the unemployment rate has risen, signalling some loosening in the labour market.

The federal agency says job losses were led by the construction industry, while the greatest job gains were made in health care and social assistance.

Rising unemployment comes as high interest rates weigh on the economy.

The Bank of Canada’s key interest rate sits at 5.0 per cent, the highest it’s been since 2001.

High interest rates are making borrowing more expensive for both businesses and consumers, which in turn is expected to lead to job losses.

The central bank is hoping to see the economy slow down as it works on getting inflation back to two per cent.

It’s cited concern about the pace of wage growth as well, which rebounded in July, rising 5.0 per cent year over year.

A quick look at Canada’s July employment (numbers from the previous month in brackets):

  • Unemployment rate: 5.5 per cent (5.4)
  • Employment rate: 62.0 per cent (62.2)
  • Participation rate: 65.6 per cent (65.7)
  • Number unemployed: 1,166,800 (1,147,100)
  • Number working: 20,166,400 (20,172,800)
  • Youth (15-24 years) unemployment rate: 10.2 per cent (11.5)
  • Men (25 plus) unemployment rate: 4.6 per cent (4.4)
  • Women (25 plus) unemployment rate: 4.8 per cent (4.4)

Here’s a quick glance at unemployment rates for July, by province:

  • Newfoundland and Labrador 8.7 per cent (8.8)
  • Prince Edward Island 8.1 per cent (8.2)
  • Nova Scotia 7.7 per cent (6.4)
  • New Brunswick 6.2 per cent (6.4)
  • Quebec 4.5 per cent (4.4)
  • Ontario 5.6 per cent (5.7)
  • Manitoba 4.9 per cent (4.3)
  • Saskatchewan 5.1 per cent (4.7)
  • Alberta 6.1 per cent (5.7)
  • British Columbia 5.4 per cent (5.6)

 

728x90x4

Source link

Continue Reading

Business

‘We are not there yet’: Metrolinx refuses to give end date for long-overdue Eglinton Crosstown LRT – CityNews Toronto

Published

 on


We use cookies and data to

  • Deliver and maintain Google services
  • Track outages and protect against spam, fraud, and abuse
  • Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services

If you choose to “Accept all,” we will also use cookies and data to

  • Develop and improve new services
  • Deliver and measure the effectiveness of ads
  • Show personalized content, depending on your settings
  • Show personalized ads, depending on your settings

If you choose to “Reject all,” we will not use cookies for these additional purposes.

300x250x1

Non-personalized content is influenced by things like the content you’re currently viewing, activity in your active Search session, and your location. Non-personalized ads are influenced by the content you’re currently viewing and your general location. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. We also use cookies and data to tailor the experience to be age-appropriate, if relevant.

Select “More options” to see additional information, including details about managing your privacy settings. You can also visit g.co/privacytools at any time.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Business

Before the Bell: Futures slip as losing month for stocks nears a close – The Globe and Mail

Published

 on


We use cookies and data to

  • Deliver and maintain Google services
  • Track outages and protect against spam, fraud, and abuse
  • Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services

If you choose to “Accept all,” we will also use cookies and data to

  • Develop and improve new services
  • Deliver and measure the effectiveness of ads
  • Show personalized content, depending on your settings
  • Show personalized ads, depending on your settings

If you choose to “Reject all,” we will not use cookies for these additional purposes.

300x250x1

Non-personalized content is influenced by things like the content you’re currently viewing, activity in your active Search session, and your location. Non-personalized ads are influenced by the content you’re currently viewing and your general location. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. We also use cookies and data to tailor the experience to be age-appropriate, if relevant.

Select “More options” to see additional information, including details about managing your privacy settings. You can also visit g.co/privacytools at any time.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Business

Metrolinx Eglinton Crosstown opening date delayed – CTV News Toronto

Published

 on


We use cookies and data to

  • Deliver and maintain Google services
  • Track outages and protect against spam, fraud, and abuse
  • Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services

If you choose to “Accept all,” we will also use cookies and data to

  • Develop and improve new services
  • Deliver and measure the effectiveness of ads
  • Show personalized content, depending on your settings
  • Show personalized ads, depending on your settings

If you choose to “Reject all,” we will not use cookies for these additional purposes.

300x250x1

Non-personalized content is influenced by things like the content you’re currently viewing, activity in your active Search session, and your location. Non-personalized ads are influenced by the content you’re currently viewing and your general location. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. We also use cookies and data to tailor the experience to be age-appropriate, if relevant.

Select “More options” to see additional information, including details about managing your privacy settings. You can also visit g.co/privacytools at any time.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Trending