Canada employment grew 230.7k in June, above expectation of 172.5k. Statistics Canada noted, “employment growth in June was entirely in part-time work and concentrated among youth aged 15 to 24, primarily young women.”
Unemployment rate dropped to 7.8%, down from 8.2%, matched expectations. Labor force participation rate also rose 0.6% to 65.2%. The figure remained above post-pandemic low of 7.5% recorded in April this year, but was considerably lower than recent peak at 9.4% in January, and the record high of 13.7% in May 2020.
