Unemployment rises in Canada

Author

Jay Lutz
June 09, 2023

Sponsored by Athena Gold

Canada starts shedding jobs

Canada’s labour market lost 17,000 jobs in May, bringing the unemployment rate to 5.2%— marking the first increase since August 2022.

After sitting stagnant at a historically-low level of 5% for five straight months starting in December 2022, the unemployment rate finally ticked higher by 0.2 percentage points to 5.2% last month.

The majority of lost jobs were concentrated across the services-producing sector, namely the business, building and other support services subsector, where employment levels fell by 40,000. Meanwhile, the goods-producing sector gained 23,000 jobs in May thanks to a large boost in the manufacturing.

You can read more on the matter here.

Athena Gold is engaged in the business of mineral exploration and the acquisition of mineral property assets. The company’s flagship Excelsior Springs project is located in the prolific Walker-Lane tectonic zone of Nevada, an area that hosts a number of large historic gold mines. The Walker Lane Trend is known for several gold projects that produced more than 1 million ounces.

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FULL DISCLOSURE: Athena Gold Corp is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Athena Gold Corp. The author has been compensated to cover Athena Gold Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.