Canada’s unemployment rate remains at historic low in July

Statistics Canada says the unemployment rate was 4.9 per cent in July.

This rate was unchanged from the historic low reached in June.

This is the lowest on record with comparable data going back to 1976.

The federal agency also says the economy lost 31,000 jobs which marks the second consecutive month of job losses.

The number of self-employed workers rose while the number of public sector employees fell.

Canada’s labour market has over one million job vacancies across the county.

Despite the labour shortage, Statistics Canada says there is no evidence of a rise in the proportion of people leaving or switching jobs.

Wage growth also held steady since June. The average hourly wage rose 5.2 per cent year over year.