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Canada lost 9400 jobs in June alone, unemployment rising

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Canada’s unemployment rate has edged up to 7.1 percent as government data showed the economy unexpectedly shed thousands of jobs in June.

Canada’s jobless rate increased to 7.1 percent from 7.0 percent in May, marking the highest record in six months, Statistics Canada reported on Friday.

Economic growth also fell below expectations as the country shed some 9,400 jobs in June.

The total number of unemployed in the country now stands at roughly 1.3 million people.

The figures markedly highlight a stall in employment growth.

Experts say the report may also force Bank of Canada to trim its growth expectations for the economy in the next week’s monetary policy report.

Meanwhile, some believe the Canadian government is taking the wrong approach to fix the economy.

The Organization for Economic Cooperation and Development (OECD) last year urged Canada to take action on the country’s long-term unemployed as about 174,000 people have been without work for more than one year.


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