Canada’s employment grew 22.1k in August, below expectation of 25.0k. The 66k gains in part-time work were offset by -44k decline in full-time work.
Unemployment rate rose from 6.4% to 6.6%, above expectation of 6.5%, marking the highest level since May 2017 outside of the pandemic period. Employment rate fell -0.1% to 60.8%.
Average hourly wages rose 5.0% yoy, slowed from July’s 5.2% yoy.
