Canadian unemployment rate rose to 5.4% in June as economy added 60,000 jobs

Statistics Canada says the unemployment rate ticked up to 5.4 per cent in June.

That’s up from 5.2 per cent in May and the highest it’s been in over a year. It also marked the second month in a row the unemployment rate has risen.

The federal agency says the increase came as the economy added 60,000 jobs in June, but with more people searching for work, the unemployment rate pushed higher.

Job gains were concentrated in wholesale and retail trade, manufacturing, health care and social assistance and transportation and warehousing.

Meanwhile, year-over-year wage growth slowed significantly last month, falling to 4.2 per cent compared with 5.1 per cent in May.

The Bank of Canada will be paying close attention to the report as it gears up for its interest rate decision next week.

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