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OTTAWA –
Statistics Canada is set to release its July jobs report this morning.
The release will provide employment figures for last month as economists watch for signs of economic weakening.
Canada’s unemployment rate has been rising for the previous two months, and high interest rates are expected to have pushed unemployment up further.
In June, the unemployment rate was 5.4 per cent.
Wage growth also slowed in June, rising 4.2 per cent year-over-year.
RBC says it expects the economy added 25,000 jobs, but that strong population growth means the unemployment rate may have still risen.
This report by The Canadian Press was first published Aug. 4, 2023
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