The monthly report published by Statistics Canada on Friday revealed that the net change in employment in June increased 31,800 following May’s disappointing fall of 7,500. Today’s data also came in above the experts’ estimate of 24K.
Further details of the report showed that the unemployment rate increased to 6% from 5.8% in May. This surprise rise in the unemployment rate could be caused by the participation rate improving to 65.5% from 65.3% during the same time period.
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