Toronto (Canada), June 9. The unemployment rate in Canada rose by 2 ticks in May, to 5.2%, with the net loss of 17,000 jobs, according to data shared this Friday by the public body Statistics Canada (CE).
It is the first time in 9 months that unemployment has increased in the North American country, since in the previous 5 months it remained at 5%.
The EC figures also indicate that wages are maintaining their strong upward trend with growth of 5.1% compared to May 2022.
The destruction of jobs last month is another sign of slowing job creation in the Canadian economy, EC said in a statement.
The increase in unemployment coincides with measures adopted by the Bank of Canada to moderate economic growth and control inflation, which currently stands at 4.4%.
On Wednesday, Canada’s monetary authority announced a quarter-point hike in interest rates to 4.75%, given the persistent “excess demand” in the economy.
The Bank of Canada justified the decision because the national economy grew more than expected in the first quarter, by 3.1%, at the same time as the rise in consumption “was surprisingly strong and broad”, which caused the first reputation for inflation in 10 months. . EFE
jcr/pem/bdp
“Travel fan. Gamer. Hardcore pop culture buff. Amateur social media specialist. Coffeeaholic. Web trailblazer.”
