Unemployment Rate Stays at 5.5 Percent

Friday, 8 September 2023 12:10

By Linda Morgan

Canadian economy added 40,000 jobs last month

The country's unemployment rate didn't change last month.

According to Statistics Canada, the rate stayed at 5.5 percent.

The agency says 40,000 jobs were added, with gain in professional, technical and scientific services, as well as construction.

However, there were drops in manufacturing and education jobs.

Hourly wages also increased by 4.9 percent on an annual basis.

The agency also points to a strong population growth of about 81,000 per month in the country.

The report comes just days after the Bank of Canada decided to keep its key interest rate at five percent.

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