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Stats Can Reports First Jobless Rate Increase in Seven Months

Statistics Canada is reporting an unemployment rate of 5.4 percent for August, up from the 4.9 percent reported in July.

CANADA - After reaching a historic low of 4.9 percent in July, Canada's unemployment rate increased to 5.4 percent in August.

Statistics Canada is reporting its first jobless rate increase in seven months. It says the economy last 40,000 jobs last month and most of those losses were in the public sector.

The latest labour force survey says hourly wages rose 5.4 percent when compared to August 2021, due to faster growth in worker compensation amid high inflation levels.

Stats Can also says 11.9 percent of permanent employees are planning to leave their jobs in the next year, almost double the rate that was reported back in January.

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