Canada’s Unemployment rate climbed to 7.1 per cent in August as economy lost 66,000 jobs
Canada’s job market stumbled again in August, marking the second straight month of losses and pushing unemployment to 7.1%—its highest level since 2016 outside the pandemic. Statistics Canada reported 66,000 jobs vanished, with steep declines in tech, transportation, and manufacturing offset only slightly by gains in construction. Economists say the softness strengthens the case for an interest rate cut later this month, though inflation data still looms. For now, rising unemployment and uneven wage growth signal mounting pressure on workers and policymakers alike.
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