Jobless rate inches down to 6.8% in June despite economy adding no new jobs - News Summed Up

Jobless rate inches down to 6.8% in June despite economy adding no new jobs


That's 3.2 percentage points lower than the summer job rate was a year ago. Canada's job market was effectively flat in June but the jobless rate inched down to 6.8 per cent because there were fewer people looking for work. "The unemployment rate fell despite no job creation because about 21,000 job seekers dropped out of the workforce, which of course is not a good way by which the unemployment rate can decline." "The weak details reinforce the view that Canada's job market is struggling to stay above the waterline, almost everywhere except British Columbia," Doug Porter at Bank of Montreal said. The numbers painted a gloomy picture of the summer job market for students, too.


Source: CBC News July 08, 2016 12:42 UTC



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