Canadian Economy Loses Over 2,000 Jobs, Unemployment Rate Rises

Economists had expected a gain of 10,000 jobs.

The latest jobs report shows the Canadian economy losing 2,200 jobs in June.

The unemployment rate rose, from 5.4% to 5.5%.

Following the release of the report, the Canadian dollar fell narrowly.

Job losses were especially severe in the goods sector, where 32,800 jobs were lost. Roughly 16,000 of those lost jobs were in manufacturing. That is part of an ongoing trend of Canada’s manufacturing sector struggling, as there has been a net 9,400 loss in the goods-producing sector in the first half of this year.

Spencer Fernando

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Shawn Harris
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Shawn Harris

So the dynamic duo of Trudeau and Morneau have once again proven they are no masterminds of all things economic and yet they remarkably resemble the cartoon character Wylie Coyote super genius, who master plan tends to blow up in their faces. These are the same two out of their depths fraudsters who belief with religious conviction , that budgets balance themselves, that proudly lying about having a balanced budget is not something to ashamed of, and see massive borrowing, spending and continual annual increases in the amount of taxes we pay as a good thing , that will benefit… Read more »

Jen
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Jen

The media is not talking so I guess canadians who listen to the far- left- fake-news will never know until pink slips are given.
One of the liberals was bragging the thousands of jobs being created, I wonder what he has to say now.

bob
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bob

how can this be with the USA economy ADDING jobs at a dizzying rate ! Welcome to socialism Canuckistan.

old white guy
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old white guy

Did not A D P report the loss of 16,000 jobs. It is a payroll company and should have very good information regarding job losses with their clients.

Del
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Del

On the CTV News the Libs bragged about creating 600,000 jobs in the last 4 years. That is over 150,000 per year, or 12,500 new jobs each month. Blatant lying doesn’t seem to bother them and they are so good at it they do it with a straight face. Does the drama queen give acting lessons at caucus meetings? Trudeau bragged when asked about the budgets balancing themselves when he said it wasn’t a priority, as Canada had a good credit rating. Just keep borrowing and borrowing. Put the responsibility on the younger generations. He really and truly doesn’t care.

William Jones
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And this is what happens eventually when governments ‘have all the answers but have no idea what the question was. This is all too typical when governments anoint themselves as “all-knowing,” and truly have no interest in the effects of various ‘policies’ which, often, have no honest relationship to the subject supposedly ‘being aided.’