{"id":51717,"date":"2025-09-08T23:10:22","date_gmt":"2025-09-08T23:10:22","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/51717\/"},"modified":"2025-09-08T23:10:22","modified_gmt":"2025-09-08T23:10:22","slug":"warning-lights-are-flashing-economist-says-as-unemployment-hits-7-1-national","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/51717\/","title":{"rendered":"\u2018Warning lights are flashing,\u2019 economist says as unemployment hits 7.1% – National"},"content":{"rendered":"

Unemployment<\/a> was up for the second straight month in Canada and has reached the highest level since 2016 outside of the pandemic years, according to new data.<\/p>\n

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\u201cWell, here\u2019s a hit we\u2019ve all been anticipating. The impact of tariffs and economic disruption is starting to show, and the numbers are worrying,\u201d says economist Anupriya Gangopadhyay at the Canadian Chamber of Commerce.<\/p>\n

\u201cCanada\u2019s August Labour Force release makes it clear\u2026and the warning lights are flashing.\u201d<\/p>\n

Statistics Canada reported on Friday that in August, the national unemployment rate climbed to 7.1 per cent from 6.9 per cent in July.<\/p>\n

August\u2019s reading was also the highest unemployment rate in Canada since May 2016, excluding data from 2020 and 2021.<\/p>\n

The agency reported Canada\u2019s job market <\/a>shed 66,000 positions in August, which was led by losses in part-time work.<\/p>\n

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A Reuters poll of economists heading into the release expected a gain of 10,000 jobs and the unemployment rate would rise to seven per cent for the month, according to LSEG Data & Analytics.<\/p>\n

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\u201cA 66,000 employment decline Canada in August was after a 41,000 contraction in July, and adds to evidence that the trade war is taking its toll on Canadian labour markets,\u201d says senior economist Claire Fan at the Royal Bank of Canada in a written statement.<\/p>\n

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