Canada Reports Surge in August Unemployment Rate
(MENAFN) Canada’s unemployment rate climbed to 7.1% in August, reaching its highest level since May 2016, according to Statistics Canada on Friday.
This marks a 0.5 percentage point increase since January, compared to an average rate of 6% from 2017 to 2019, prior to the COVID-19 pandemic, the national statistical agency reported.
The agency stated that in August, there were 1.6 million unemployed individuals, a 2.2% increase from July, representing 34,000 more jobless Canadians.
Unemployment was particularly high in Southern Ontario’s largest metropolitan areas. Windsor led the way with an 11.1% unemployment rate, followed by Oshawa at 9% and Toronto at 8.9%.
These regions have been grappling with an unstable economic environment since the beginning of the year, exacerbated by the threat or actual imposition of U.S. tariffs, especially on motor vehicle and parts exports, Statistics Canada noted.
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