Economy
Canada’s Jobless Rate Drops to 6.9%
Canada saw a modest dip in its unemployment rate to 6.9% in June, buoyed by strong job growth across wholesale and retail trade, manufacturing, and healthcare, according to government data released on Friday.
Statistics Canada reported that the country gained 83,100 jobs last month — marking the first overall employment increase since January.
The recent upswing in employment marks a sharp contrast to the broader trend of economic slowdown seen in previous months.
Leading the job surge was the wholesale and retail trade sector, which added 34,000 positions, while health care and social assistance followed with 17,000 new roles.
This employment report is the final one to be released ahead of the Bank of Canada’s next interest rate decision, set for July 30.
Meanwhile, U.S. President Donald Trump announced overnight plans to introduce a 35% tariff on Canadian goods starting August 1 — one of the steepest trade penalties unveiled in a sweeping set of new tariffs targeting American trading partners.
—AFP
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