Canada unemployment jumps to 5.4% in August, 1st time in 7 months

Employment declines by 40,000, or 0.2%, from previous month

By Ovunc Kutlu

ANKARA (AA) - Canada's unemployment rate jumped to 5.4% in August, rising 0.5 percentage points from the previous month, Statistics Canada said in a statement on Friday.

It marks the first increase in seven months.

The market expectation for the figure was to come in at 5%, while unemployment rate stood at a record low of 4.9% in both July and June.

"Employment fell among youth aged 15 to 24 in August, primarily young women, as well as among people aged 55 to 64," the statement said.

The number of individuals employed declined by 40,000, or 0.2%, in August from the previous month.

Total hours worked were unchanged in August, following a monthly decline of 0.5% in July, but total hours worked were up 3.7% on an annual basis.

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