Job growth lags behind population growth, unemployment rate rises to 6.2% in May – National | Globalnews.ca

Canada unemployment rate The number of jobs increased by 27,000 in May, but the employment rate still rose. Statistics Canada Said Friday.

The unemployment rate is currently 6.2%, up slightly from 6.1% last month.

Canada's population is growing faster than employers are adding jobs, Statistics Canada says.

Average hourly earnings also rose to 5.1% in May from 4.7% in April.

The Bank of Canada said earlier this week that The benchmark interest rate was cut for the first time in more than four yearsit will be watching the pace of wage increases to determine the pace of future rate cuts.

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