Unemployment rate hits new record low of 4.9% in Canada

Canada’s unemployment rate hit a new record low of 4.9% last month, as fewer people searched for work.

Statistics Canada adds that in Quebec, the rate was measured at 4.3%, whereas it had risen to 4.2% in May.

The federal agency observed a decline in employment in the country of 0.2% last month, or 43,000, the phenomenon having been almost entirely attributable to the decrease in the number of workers aged 55 and over. In May, employment rose by 40,000 in Canada.

The decline observed in the services sector, particularly in retail trade, was offset by the increase recorded in the goods sector.

Employment in Quebec fell by 27,000 in June. The largest declines occurred in natural resources and in information, culture and recreation. Notable increases were, however, recorded in professional, scientific and technical services as well as in manufacturing.

In Prince Edward Island, the unemployment rate plummeted from May to June; it fell from 7.8% to 4.9%. It also fell significantly in New Brunswick, from 7.1% to 6.1%, while it increased slightly in Nova Scotia, from 6.7% to 7%.

Meanwhile, Statistics Canada noted that the average hourly wage in Canada rose 5.2% year-over-year in June, up from the 3.9% increase seen the previous month.

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