Canada Unemployment Rate Up

September 4th, 2015  |  Personal Finance

Canada’s unemployment rate saw an increase to 7 percent this August as more people are looking for work.

After sitting steady at 6.8 percent for the last six months, Canada’s recession-like conditions forced many companies to cut jobs, bumping up the national average for unemployment.

Provincially, some parts of the country are struggling more with losses like the oil and gas sector. Alberta’s unemployment rate jumped by 1.3 percent to an overall 6 percent average in that time.

Ontario and Quebec also experienced a small downturn in employment, losing 3,900 and 2,000 jobs respectively.

Not all parts of Canada struggled however; both British Columbia and Saskatchewan added another 7,000 jobs to the economy.

While Stats Can has reported the country’s economy has declined in the first two quarters of the year, analysts remain optimistic and point to job growth as evidence that Canada is experiencing a recession only in the technical sense.

Hopes are high that Canada may be able to rebound faster than expected.

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