Unemployment rate hits new record even as economy adds jobs
Canada’s labour market unexpectedly strengthened after two-straight months of record losses as the country gradually reopens from COVID-19 related restrictions.
The numbers ratify recent data high-frequency data, which had signaled a recovery is underway, with job postings increasing and more Canadians reporting an increase in work at the end of May. The numbers will be a relief to policy makers after the unprecedented loss of about 3 million jobs in March and April.
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