Canada’s unemployment rate ticked higher again in August as the labour market continues to cool.
Statistics Canada said Friday that the unemployment rate rose to 6.6 per cent amid a gain of 22,000 net jobs. The increase reflected gains in part-time work but declines in full-time jobs.
That’s up from 6.4 per cent in July, when the economy shed a few thousand jobs.
Average hourly wages rose 5.0 per cent in August, StatCan said, down slightly from 5.2 per cent the month before.
The latest read of the Canadian labour market comes two days after the Bank of Canada delivered its third consecutive interest rate cut, lowering borrowing costs in an effort to relieve some pressure on the economy.
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