Jobs Numbers Are Better Than Expected

Photo courtesy of Flickr

Fears about a rise in the unemployment rate, and what it would say about our country’s economy, appear to be unfounded.

The London-St. Thomas rate fell to 5.9% in June from 6.1% in May.

Statistics Canada reports the national rate of unemployment stayed steady at 6.8% for a fifth straight month, despite the loss of 6,400 jobs. Economists had expected 10,000 lost jobs.

There was also extra interest in the unemployment rate today because of a TD Bank statement claiming Canada has been in a recession for the first six months of this year.