Statistics Canada reports a 7.1% unemployment rate in May, up from 6.1% in April.

Statistics Canada releases May jobs report, with RBC predicting a 6.2% unemployment rate and 15,000 job additions. This report follows the Bank of Canada's interest rate cut. The Canadian job market has weakened due to high interest rates affecting businesses. The unemployment rate rose 1 percentage point in a year, from 6.1% in April to 7.1% in May.

June 07, 2024
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