Canadian Unemployment Rate Rose to 6.4% in June as Jobs Market Stalls

Published on July 5, 2024

The Canadian economy lost 1,400 jobs in June as the unemployment rate climbed to its highest level in more than two years, Statistics Canada said on July 5. In its monthly labour force survey report, the agency said the unemployment rate came in at 6.4 percent for the month, up from 6.2 percent in May, as the size of the labour force grew. The June result was the highest reading for the unemployment rate since January 2022 when it was 6.5 percent. Statistics Canada noted the unemployment rate has trended up since April 2023, rising 1.3 percentage points over that period. It also said that as the unemployment rate has increased, so has the proportion of long-term unemployed with 17.6 percent of those unemployed in June having been continuously jobless for 27 weeks or more, up four percentage points from a year earlier....

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