Canada’s employment rate drops in June

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Employment in Canada fell by 43,000, or 0.2%, in June, marking the first decline not associated with tightened public health restrictions since the start of the Covid-19 pandemic.

Statistics Canada announced on Friday that the job loss was almost entirely due to a decline among workers aged 55 and over, the Xinhua news agency reports.

Across industries, a decline in the services-producing sector, particularly in retail trade, was moderated by gains in the goods-producing sector, the national statistics agency said.

Meanwhile, the unemployment rate fell 0.2 percentage points to a new record low of 4.9% as fewer people looked for work.

The total number of unemployed fell by 54,000, or 5.1%, to one million, the agency said.

With employment and unemployment falling in June, the labor force participation rate, the proportion of the working-age population that was either employed or unemployed, fell 0.4 percentage points from May for settle at 64.9%.

Total hours worked rose 1.3% in June, the first increase since March 2022, and average hourly wages rose 5.2% to C$31.24 on an annual basis in June, said Statistics Canada.

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