The intensity of labour shortages is easing the latest employment data reveals. PHOTO by Pexels.
The Canadian economy added another 60,000 jobs in June while wage growth slowed to 4.2% year-over-years from 5.1% the previous month.
Despite the job additions in June, the unemployment rate ticked up to 5.4% from 5.2%, an indication the Canadian economy is not keeping up with population growth that is setting new records, including an 84,000 increase in June.
“Employment growth is very strong, but was not enough to absorb the large number of labour entrants,” commented RBC Economics in a recent update while also pointing out something job shops will find heartening: the intensity of labour shortages is easing.
