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Canadian Inflation & Unemployment Rate

Canada Inflation Rate Drops to 2.8% while Unemployment Rates Rise to 5.4%

With the recent shift in Canada’s inflation rate falling to 2.8%, the economy is starting to drop towards the target rate of 2%. Canada’s economy still has room for improvement but is making strides in the right direction for both businesses and hard-working Canadians.

Canada's current unemployment rate rose to 5.2% in May, the first increase since August of 2022 with current unemployment rates sitting at 5.4% (*Statistics Canada*). With an improving economy comes various changes to the job market including more open positions due to companies rehiring because of inflation-induced layoffs, and more accommodating workplaces.

Otterbrook can be a powerful asset when looking for your next position. Our full recruitment life cycle management ensures you have the best opportunity to find a career with purpose. We currently have multiple clients across Canada and the US with open positions waiting for the right candidate. With our help, we can make your job search much easier and more successful.

Reach out to one of our partners today if you are looking for your next position. We'll assess your suitability for our open positions and contact you accordingly.

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