The latest figure — 3.4 per cent — keeps the capital region rate among the lowest in Canada
Greater Victoria’s unemployment rate was virtually flat in June at 3.4 per cent compared to May’s marginally higher rate of 3.5 per cent.Both the labour force and employment grew in June from May, Statistics Canada said in its monthly report released Friday.
“With global inflation and labour shortages, we recognize this is a challenging time for many, but our economy remains strong.” Statistics Canada says the Canadian economy added 60,000 jobs in June, driven by gains in full-time work. June marked the second month in a row the unemployment rate has risen as economists watch for softening in the labour market amid high interest rates.
But forecasters are still expecting the central bank to raise interest rates at its next interest rate decision on Wednesday. The quarter-percentage-point rate hike brought its key rate to 4.75 per cent, the highest it’s been since 2001.
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