Student jobless rate spikes to over 20%

Canada’s unemployment rate climbed to seven per cent in May, its highest level in over eight years excluding the pandemic, with the economy gaining 8,800 jobs .

The unemployment rate has risen by 0.4 percentage points since February, as uncertainty brought on by U.S. tariffs has dampened hiring.

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Despite the jobless rate climbing, Canada’s job market showed resilience in May, with full-time employment increasing by 58,000, offset by a decline in part-time work, Statistics Canada said on Friday.

In May, employment in the private sector increased by 61,000, while public sector employment fell by 21,000, after a jump in April that was attributed to hiring temporary workers for the federal election.

Employment rose in wholesa

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