Unemployment slightly down in Guelph, small bump up in Waterloo Region | Globalnews.ca

More Canadians appear to be looking for work.

Statistics Canada released its jobs numbers on Friday and it showed the unemployment rate rose to 5.4 per cent in August after being at 4.9 in July.

It marks the first increase in the unemployment rate since January of this year.

It says the economy lost 40,000 jobs in August.

In Guelph, unemployment is down from 3.2 per cent to 3.1 per cent.

And K-W/Cambridge’s unemployment rate climbed to 5.4 per cent after being at 5.1 the previous month.

A senior economist from TD Bank says Canadians shouldn’t be worried seeing the unemployment rate tick up, as this slowdown is necessary to keep high inflation from becoming “entrenched.”