Sep 08, 2023
By Jane Brown
The state of Canada’s job market improved a bit in August.
A new Statistics Canada report says the unemployment rate held steady at 5.5 per cent in August as the economy added 40,000 jobs.
Friday’s report ends a three-month streak of increases in the jobless rate.
Employment increased in professional, scientific and technical services as well as construction, while jobs were shed in education services and manufacturing.
Average hourly wage growth continues to be strong, rising 4.9 per cent on an annual basis.
The latest jobs data comes days after the Bank of Canada opted to hold interest rates this week as signs of a weakening economy grow.