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Canada loses 24,200 jobs in July, pushing unemployment rate higher

Canada loses 24,200 jobs in July, pushing unemployment rate higher

OTTAWA : Wage growth accelerated last month to its fastest clip in more than decade, according to numbers released Friday from Statistics Canada.

The 4.5 per cent burst came in a month that also produced less-positive data: the unemployment rate moved up to 5.7 per cent as Canada shed 24,200 jobs.

The increase in wages — as measured by year-over-year average hourly wage growth for all employees — marked the indicator’s strongest month since January 2009.

The reading, one of several wage measures closely watched by the Bank of Canada, was up from 3.8 per cent in June and 2.8 per cent in May. In Quebec, wage growth sped up to nearly 6.2 per cent, while Ontario’s number was 5.1 per cent.