Canada lost 84,000 jobs in February, unemployment rate rises to 6.7%

Canada’s economy experienced a significant setback in February, losing 84,000 jobs and raising the unemployment rate to 6.7 percent. The decline was primarily driven by losses in full-time and private sector jobs, particularly among men aged 25 to 54 and youth aged 15 to 24. The report indicated a troubling trend for the labor market, with notable job losses in wholesale and retail trade, construction, and manufacturing, while average hourly wages increased by 3.9 percent.

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