OTTAWA, Sept. 19 (Xinhua) -- The number of Canadians receiving regular employment insurance (EI) benefits totaled 489,000, up 2.2 percent in July from a month earlier which was the third consecutive monthly increase, Statistics Canada said Thursday.
On a year-over-year basis, the number of regular EI beneficiaries was up by 44,000, or 10 percent, in July, the national statistical agency said, adding that prior to these increases, the number of regular EI beneficiaries had held relatively steady since September 2023.
The agency said that in the three months to July, the unemployment rate increased 0.3 percentage points to 6.4 percent, as more people searched for work.
Compared with July 2023, the unemployment rate was up 0.9 percentage points and the number of unemployed people who had been laid off increased to 604,000 by 12.2 percent.
Meanwhile, according to a market report issued by the Royal Bank of Canada, Canadian consumers were pulling back this summer after years of pandemic revenge spending.
Canadian consumer momentum showed further signs of slowing in August. Real retail sales, excluding autos, likely declined on a month-over-month basis both before and after adjusting for inflation. Home and renovation-related spending remained weak, alongside general merchandise, gasoline and health and personal care spending, the report said. ■
