Home Stocks Canada employment dropped -39.7k in Aug, unemployment rate jumped to 5.4%

Canada employment dropped -39.7k in Aug, unemployment rate jumped to 5.4%

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Canada employment dropped -39.7k in August, much worse than expectation of 15.0k growth. Unemployment rate jumped from 4.9% to 5.4%, above expectation of 5.0%. That’s the first rise in unemployment rate in seven months. Participation rate ticked up 0.1% to 64.8%. Average hourly wages of employees rose 5.4% yoy.

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