Canadian economy loses over 30,000 jobs in July
Posted by news | Filed under All News Stories, Business, Durham, GTA, Toronto
The Canadian economy lost 30,400 jobs in July, and the unemployment rate rose to 7.3 per cent. According to Statistics Canada, it’s the biggest employment drop since last October. The decline comes predominantly in Quebec in the part-time category. Although a surprise, the report is not considered a total shock given economic indicators have tended to point downwards the past several months. Unemployment in Oshawa was up two-tenths to 8.4 per cent, while Toronto’s rate dipped to 8.5.