Canada loses 1,400 jobs in June, unemployment rate rises to 6.4%

By Ovunc Kutlu

ISTANBUL (AA) - Canada's employment decreased by 1,400 in June, according to official figures released Friday by Statistics Canada.

The market expectation for the figure was an addition of 27,300 after the North American country added approximately 27,000 jobs in May.

On an annual basis, however, employment was up by 343,000, or 1.7%, in June, compared to the same month of 2023.

The unemployment rate rose 0.2 percentage points to 6.4% in June, from 6.2% in May, and that figure came more than market expectations of 6.3%.

The unemployment rate has risen 1.3 percentage points since April 2023, according to the agency.