Data released recently from the Canadian economy showed that 83,000 jobs were added in June, following an 8,000 increase in May, better than expectations of about 0.9,000. Meanwhile, the unemployment rate fell to 6.9% in June, compared to 7% in May.
In detail, the wholesale and retail trade sector added 34,000 jobs, while the healthcare and social services sector added 17,000 jobs. Meanwhile, employment in the agricultural sector declined by 6,000 jobs.
Average hourly wages for employees rose 3.2% year-over-year in June, following a 3.4% increase in May.