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June unemployment rate ticked up to a...>

CANADA DATA
CANADA DATA: June unemployment rate ticked up to 5.5% from a record 
low of 5.4% in May, in line with the MNI consensus of 5.5%. The change 
was driven by more people searching for work. Employment fell by -2.2K 
vs a +5K expected rise. Job losses of -32.8K in the goods sector were 
offset by a +30.6K gain in services. Manufacturing employment was down 
-15K, the first decrease in 12 months, with losses concentrated in 
Quebec, British Columbia and Alberta, though Ontario posted an increase. 
Wage pressure tightened as avg hourly wages for permanent workers rose 
+3.6% YoY. This was the largest year-over-year wage gain since May 2018.

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