Canada Unemployment Rate Edges lower to 10.2%

Net Change in Employment in Canada rose by 245,800, compared to analysts’ estimate of 275,000, in August and brought the Unemployment Rate down from 10.2% in August from 10.9% in July, Statistics Canada reported on Friday.

“The number of Canadians who were employed but worked less than half their usual hours for reasons likely related to COVID-19 fell by 259,000 (-14.6%) in August,” Statistics Canada noted in its press release.