The unemployment rate rose to 7.1% in Canada and 6.0% in Quebec in August

Both the Canadian and American economies are losing jobs amid the trade war started by U.S. President Donald Trump. Business Analyst Kris McCusker breaks down the alarming numbers.

By The Canadian Press

The unemployment rate rose by 0.2 percentage points to 7.1 per cent in August across the country, according to Statistics Canada, as the Canadian economy lost 66,000 jobs.

In Quebec, employment remained stable for the second consecutive month, but an increase in the number of people looking for work led to a 0.5 percentage point rise in the unemployment rate, which stood at 6.0 per cent.

According to Statistics Canada, nationally, 60,000 part-time jobs were lost in August, as were 6,000 full-time jobs.

According to a survey conducted by LSEG Data & Analytics prior to the release of the data, economists had expected an average increase of 10,000 jobs in August and a rise in the unemployment rate to 7.0 per cent.

Job losses occurred mainly in professional, scientific, and technical services, transportation and warehousing, and manufacturing. Employment increased in the construction sector.

Statistics Canada’s employment report precedes the Bank of Canada’s next interest rate decision, scheduled for Sept. 17.

–This report by La Presse Canadienne was translated by CityNews

Top Stories

Top Stories

Most Watched Today