Canada’s unemployment rate rises to 6.2% in May, economy adds 27,000 jobs

OTTAWA — Canada’s unemployment rate ticked up to 6.2 per cent in May as the job market continued to show signs of weakness.

The report suggests the Canadian job market continues to soften as high interest rates weigh on consumers and businesses. “A lower proportion of unemployed people transitioning into employment may indicate that people are facing greater difficulties finding work in the current labour market,” the report said.Statistics Canada says the involuntary part-time rate, which refers to the proportion of part-time workers who could not find full-time work or worked part-time because of weak business conditions – was 18.2 per cent in May. That’s up from 15.4 per cent a year prior.

Meanwhile, wage growth remained strong in May as average hourly wages rose 5.1 per cent from a year ago, reaching $34.94.

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