Unemployed Canadians losing confidence as job postings continue to decline: report

Meanwhile, the level of confidence held steady for employed Canadians.

This comes as the unemployment rate in Canada is drifting higher, reaching 6.4 per cent in June, the highest jobless rate (outside of the pandemic) since late 2017.

“Not many industries have posted strong gains lately,” according to Brendan Bernard, senior economist at the Indeed Hiring Lab.

“According to the Survey of Employment, Payrolls, and Hours (SEPH) — which is less volatile at the industry level than the LFS — healthcare and social assistance, together with education, accounted for more than half of net job growth over the three- and six-month periods through May 2024. Job growth in most other industries has been lukewarm, and a few sectors (including retail trade), have declined since the end of 2023.”

Overall, Canada lost 1,400 jobs in June following an increase of 27,000 in May, according to Statistics Canada (StatCan).