Canada unemployment rate rises
Canada's unemployment rate increased to 6.7%, exceeding market expectations of 6.5%.
The rise from the previous 6.5% reading indicated continued weakness in the country's labor market.
Employment declined by 4,700 jobs, falling short of expectations for a 15,000-job increase. Although the latest decline was smaller than the previous loss of 68,300 jobs, the figures suggested that employment conditions had yet to recover. The weaker labor market data could influence Bank of Canada (BoC) interest-rate expectations.
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