Ottawa: Statistics Canada will present the Labor Force Survey Report for the month of August today.

The unemployment rate in July was recorded at 4.9 per cent, the lowest since a comparative study with data up to 1976. The allowances per hour were 5.2 per cent higher in July than a year ago. But inflation continues to hit.

In August, the Canadian economy added 5,000 jobs, while the unemployment rate grew marginally by 5 percent, RBC said. Due to the tight condition of the labor market, the Bank of Canada is describing the Canadian economy as excessively hot.

Economists believe that the economic recession may come soon, according to the rate of interest being increased by the Bank of Canada.

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