Statistics Canada to release July employment figures this morning

OTTAWA –

Statistics Canada is about to launch its July jobs report this morning.

The launch will present employment figures for final month as economists look ahead to indicators of financial weakening.

Canada’s unemployment price has been rising for the earlier two months, and excessive rates of interest are anticipated to have pushed unemployment up additional.

In June, the unemployment price was 5.4 per cent.

Wage progress additionally slowed in June, rising 4.2 per cent year-over-year.

RBC says it expects the economic system added 25,000 jobs, however that robust inhabitants progress means the unemployment price could have nonetheless risen.

This report by The Canadian Press was first printed Aug. 4, 2023