Unemployment rate dips as economy adds 953,000 jobs

Canada’s unemployment rate is no longer at a record high.

Statistics Canada numbers released Friday show the economy added 953,000 jobs last month.

Of those, 488,000 were full-time jobs.

That pushed the unemployment rate down from 13.7 per cent in May to 12.3 per cent in June.

About 2.5 million people were still out of work due to the COVID-19 pandemic last month — either due to temporary or permanent layoffs.

The Bank of Canada and federal government say the worst of the economic pain from the pandemic is over.

However Canada will face high unemployment and low growth until 2021.