Canada's Unemployment Rate Rises to 6.2%

Canada’s unemployment rate rose to 6.2% in May despite adding 27,000 jobs. The economy gained 62,000 part-time jobs, but lost 36,000 full-time positions. The proportion of workers forced into part-time roles due to lack of full-time jobs increased to 18.2% from 15.4% last year. Economists predict potential interest rate cuts by the Bank of Canada in response to a cooling job market, but inflation data will influence the decision.