Canada Adds Just 8,800 Jobs, Unemployment Rises to 7% (2)

The Canadian economy eked out minor job gains, and the unemployment rate rose for a third straight month to the highest level since September 2016 outside of the pandemic.

Employment grew by 8,800 positions in May, and the jobless rate increased 0.1 percentage points to 7%, Statistics Canada data showed Friday. The median projection in a Bloomberg survey anticipated 10,000 positions lost.

May is the fourth straight month where the economy either saw very little change in employment or job losses. Since February, the labor market shed a net of 15,300 jobs as a result of firms slowing down hiring, ...