Canada’s Unemployment Rate Increases to 5.5% in July—The Third Consecutive Monthly Increase

Statistics Canada (StatsCan) reported on Thursday (9-21-23) that the number of Canadians receiving regular Employment Insurance (EI) benefits increased by 25,000, or 6.0%, to 438,000 in July. This marks the third consecutive monthly increase and the largest increase since May 2021.

From April to July, the number of Canadians receiving regular EI benefits has increased by 42,000, or 10.5%.

According to the Labor Force Survey, the unemployment rate in Canada increased 0.1 percentage points to 5.5%, marking the third consecutively monthly increase.

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