Canada’s Unemployment Rate Grew by 6.0 Percent in June

Job openings in Canada added 31,800 jobs in June compared to the poll of 24,000 on analysts by Reuters and stated that jobless rate would remain the same. Although, the majority of it is part-time.

On the other hand, the unemployment rate increased to 6.0 percent from 5.8 percent with more people looking for work based on the national statistical agency, Statistics Canada, on Friday.

The data further increase the expectations for a rate hike on July 11 by the Bank of Canada for the fourth time in 2018. The succeeding move will be relative to the economic data.

Employment gains were most influenced by added  22,700 in part-time positions and 9,100 in full-time work. Manufacturing employment increased by 10,900 jobs, which was the first growth this year.

The central bank of Canada also monitors the income growth where the data showed a good increase of 3.5 percent on Average hourly wages in June than last year.