{"id":20560,"date":"2023-08-10T02:57:06","date_gmt":"2023-08-10T09:57:06","guid":{"rendered":"https:\/\/essential.construction\/news\/unemployment-rate-ticks-up-to-5-5-per-cent-in-july-as-job-creation-lags-population-growth\/"},"modified":"2023-08-10T02:57:08","modified_gmt":"2023-08-10T09:57:08","slug":"unemployment-rate-ticks-up-to-5-5-per-cent-in-july-as-job-creation-lags-population-growth","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/unemployment-rate-ticks-up-to-5-5-per-cent-in-july-as-job-creation-lags-population-growth\/","title":{"rendered":"Unemployment rate ticks up to 5.5 per cent in July as job creation lags population growth"},"content":{"rendered":"

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Aug., 9, 2023 \u2013 Statistics Canada says employment was little changed last month as the economy lost a modest 6,400 jobs.<\/p>\n

Meanwhile, the unemployment rate ticked up to 5.5 per cent amid population growth.<\/p>\n

July marks the third consecutive month that the unemployment rate has risen, signalling some loosening in the labour market.<\/p>\n

Wage growth bounced back last month, however, rising 5.0 per cent year-over-year.<\/p>\n

The federal agency says job losses were led by the\u00a0construction\u00a0industry, while the greatest job gains were made in health care and social assistance.<\/p>\n

Rising unemployment comes as high interest rates weigh on the economy, making borrowing more expensive for both businesses and consumers.<\/p>\n

This report by The Canadian Press was first published Aug. 9, 2023.<\/em><\/p>\n<\/p><\/div>\n