Money Savings for Canadians

Canada’s job market delivered a pleasant surprise in June, as the national unemployment rate dipped to 6.9% , defying economists’ expectations of a rise to 7.1%. According to Statistics Canada, the economy added 83,000 jobs , marking the first significant employment gain since January. The bulk of the new positions were part-time roles , with 47,000 jobs  created in the private sector. Key growth sectors included wholesale and retail trade , which added 34,000 jobs, and health care and social assistance , which saw a boost of 17,000 positions. Even the manufacturing sector , previously hit by trade tensions, posted a modest gain of 10,000 jobs. This unexpected uptick in employment has prompted analysts to reconsider their forecasts for the Bank of Canada’s upcoming interest rate decision. While some had anticipated a rate cut, the strength of the June labour report may delay such moves. Despite the positive headline numbers, challenges remain. Student unemployment  remains ele...