Canadian unemployment rate rose to 6.4% in June

Statistics Canada said Friday the unemployment rate came in at 6.4 per cent for the month, up from 6.2 per cent in May, as the size of the labour force grew.

The Canadian job market stalled in June as the economy lost 1,400 jobs and the unemployment rate climbed to its highest level in more than two years, bolstering the case for further interest rate cuts by the Bank of Canada.

Statistics Canada said Friday the unemployment rate came in at 6.4 per cent for the month, up from 6.2 per cent in May, as the size of the labour force grew.

The June result was the highest reading for the unemployment rate since January 2022 when it was 6.5 per cent.