Canada’s unemployment rate dropped slightly to 6.9 per cent in June due to strong job gains in the wholesale, retail, manufacturing, and health care sectors, according to new data released by Statistics Canada.
On Canada’s unemployment rate, the national statistics agency, on Friday, reported that the economy added 83,100 jobs in June, marking the first net employment increase since January.
However, it noted that much of the growth came from part-time positions.
Leading the job surge was the wholesale and retail trade sector, which created 34,000 new positions. The health care and social assistance sector followed with 17,000 jobs, while manufacturing also contributed to the positive trend.
This unexpected boost in employment comes despite recent signs of a broader economic slowdown, offering mixed signals ahead of a crucial Bank of Canada interest rate decision scheduled for July 30.
Meanwhile, in a move that could impact trade relations, U.S. President, Donald Trump announceda new 35 per cent tariff on Canadian goods, set to take effect on August 1, one of the steepest tariffs unveiled this week on American trading partners.
