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Unemployment is up in Niagara and across the country


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Statistics Canada says the unemployment rate rose to 5.4 per cent in June, reaching the highest level in over a year.

Here in Niagara the unemployment rate jumped from 4.5% in May to 5.7% in June.

Employment in the region shrunk by 3.300 jobs and is down over 10,000 jobs since last June.

Nationally 5.4% is up from 5.2% per cent in May. 

It also marked the second month in a row the unemployment rate has risen.

The federal agency says the increase came as the economy added 60,000 jobs in June, but with more people searching for work, the unemployment rate pushed higher.

Job gains were concentrated in wholesale and retail trade, manufacturing, health care and social assistance and transportation and warehousing.

Meanwhile, year-over-year wage growth slowed significantly last month, falling to 4.2% compared with 5.1% in May.

The Bank of Canada will be paying close attention to the report as it gears up for its interest rate decision next week.

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