Economics
Canadian Labor Market Bounces Back Strongly After Lockdowns
- Economy creates 230,700 jobs; unemployment rate falls to 7.8%
- Report comes ahead of expected Bank of Canada bond taper
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Canada’s job market roared back to life faster than expected in June, reversing the bulk of employment losses from country-wide lockdowns earlier this year.
The economy added 230,700 positions last month, Statistics Canada said Friday in Ottawa, versus economists’ expectations for an increase of 175,000. The nation had lost 275,000 jobs in April and May as governments shut down parts of the economy to contain a third wave of Covid-19 cases.