Canada Unemployment Rate Continues to Climb, Rising to 6.4% in June

By Robb M. Stewart

OTTAWA--Unemployment in Canada continued to climb last month, hitting a fresh more than two-year high after the economy unexpectedly shed jobs.

Statistics Canada reported Friday that Canada's economy lost a net 1,400 jobs in June. That undershot market expectations for the addition of 25,000 jobs, according to economists at TD Securities.

The unemployment rate rose to 6.4%, where expectations were for the jobless rate to tick up to 6.3% from 6.2% in May.

When calculated using U.S. Labor Department methodology, Canada's unemployment rate in June was up 0.2 percentage point at 5.4%.

Write to Robb M. Stewart [e-mail]

(END) Dow Jones Newswires

07-05-24 0847ET