Canada’s employment contracted -1.4k in June, much worse than expectation of 25.0k growth.
Unemployment rate rose from 6.2% to 6.4%, above expectation of 6.3%. It has now risen 1.3% since April 2023. Employment rate fell -0.2% to 61.1%.
Total hours worked were down -0.4% mom, up 1.1% yoy. Average hourly wages rose 5.4% yoy, up from May’s 5.1% yoy.
