Unemployment rate ticks up to 6.4% in June amid job losses: StatCan – National

The national jobless rate rose to 6.4 per cent in June as overall employment dipped in the month, Statistics Canada said Friday.

Canadian employers collectively shed 1,400 jobs in the month, the agency said Friday.

June’s labour force survey results compare to a jobless rate of 6.2 per cent in May, when the economy added 27,000 positions.

The Bank of Canada is looking for cooling in the labour market, particularly in wage growth, as it weighs when it can deliver further interest rate cuts.

Average hourly wages accelerated to 5.4 per cent in June from 5.1 per cent in May, StatCan said.