Canada's employment declines in June by 0.2%, unemployment rate at 4.9%

Canada's employment fell by 43,000, or 0.2 per cent, in June, marking the first decline not associated with a tightening of public health restrictions since the beginning of the Covid-19 pandemic.

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

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

Meanwhile the unemployment rate fell 0.2 percentage points to a new record low of 4.9 per cent as fewer people searched for work.

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

With both employment and unemployment falling in June, the labour force participation rate, the proportion of the working age population who were either employed or unemployed, fell 0.4 percentage points from May to 64.9 per cent.

Total hours worked rose 1.3 per cent in June, the first increase since March 2022, and average hourly wages rose 5.2 per cent to C$31.24 on a year-over-year basis in June, Statistics Canada said.

--IANS

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