June Job Market Stalls as Unemployment Ticks Up

Statistics Canada is set to report employment figures for June today.

 

A Reuters poll of economists expect the pace of hiring stalled in June, with no change in employment predicted, according to LSEG Data & Analytics.

 

Economists also expect the jobless rate rose a tick to 7.1 per cent last month.

Trade-sensitive sectors such as manufacturing and transportation have faced job losses in recent months as Canada’s tariff dispute with the United States hampers the economy.

 

Last month, U.S. President Donald Trump doubled tariffs on steel and aluminum to 50 per cent and signalled this week that he intends to levy matching tariffs on copper imports.

 

The June jobs numbers will be the last look the Bank of Canada gets at the labour market ahead of its next interest rate decision on July 30.

 

 

 

 

This article was first reported by The Canadian Press