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Canada: Unemployment rate increases in August 2024

Canada: Unemployment rate increases in August 2024

By م.زهير الشاعر

Published: September 7, 2024

Canada experienced an increase in the unemployment rate to 6.6 percent last August as difficulties continued for students to find jobs.

A labor force survey conducted by Statistics Canada yesterday, Friday, revealed that the economy added a modest 22,000 jobs last month, falling behind the pace of population growth.

Employment rose last month in educational services, healthcare, social assistance, finance, insurance, real estate, and rental and leasing.

It declined in the other services category as well as in professional, scientific, and technical services, utilities, and natural resources.

Returning students to universities this fall faced a particularly difficult summer job market this year, with their unemployment rate rising to the highest level since the summer of 2012 - excluding the summer of 2020 when the country suffered from the COVID pandemic.

Between May and August, the unemployment rate among students averaged 16.7 percent, up from 12.9 percent last year.

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