Canada’s Economy Adds Record 953,000 Jobs in June; Unemployment Rate Falls

Canadian employment rose by a record-setting 953,000 people in June as COVID-19 lockdown restrictions eased across the country, the Globe and Mail reported. Statistics Canada said today that combined with May’s gain of nearly 290,000 workers, the labour market has recovered about 40 percent of the three million jobs that were lost during the pandemic. The unemployment rate fell to 12.3 percent from May’s record of 13.7 percent. June’s employment gains were almost evenly split between full-time and part-time work. The labour participation rate jumped to 63.8 percent from May’s 61.4 percent as discouraged workers jumped back into job searches. Moreover, the number of Canadians who worked less than half of their usual hours for reasons related to COVID-19 dropped by 823,000 in June. Read more.