Canada Job Creation Surges in July

13 August, 2018, 02:03 | Author: Mary Valdez
  • 'Another head scratcher': ​Canada adds 54100 jobs in July

Stats Can says 54,100 jobs were created and the national jobless rate dropped to a 40 year low at 5.8-percent.

It could be another push for the Bank of Canada to increase interest rates next month.

Data collected for the Labour Force Participation Survey showed Windsor's participation rate rose a tenth of a percentage point in July to 60.5 per cent.

The youth unemployment rate - representing workers aged 15 to 24 years old - fell to 11.1 per cent, down from 11.7 per cent in June.

The jobless rate had been 5.8 percent from February through May, the lowest since the current method of calculating unemployment was introduced in 1976, before edging up to 6.0 percent in June.

The economy added 54,100 jobs, another strong month following a 31,800 gain in June.

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While the number of jobless seems to have taken a large leap month-to-month, the local data can't be accurately compared, as it doesn't take seasonal factors into consideration.

According to a report by Statistics Canada, Manitoba added 3,500 full time jobs, while losing 7,000 part time jobs over the past month.

"In the wacky world of Canada's monthly employment numbers, July came up with another head scratcher, with some big headlines but some disappointments in the fine print. there are lots of reasons to question just how good the data really are here", said Avery Shenfeld, chief economist at CIBC Economics.

On a year-over-year basis, employment rose by 245,900 jobs, or 1.3 percent.

Overall, the goods-producing sector lost 36,500 jobs in July, with a notable loss of 18,400 positions in manufacturing and a drop of 12,300 in construction. "A solid headline number masked less than optimal details: all part-time hiring, and by and large public sector, driven by universities". Those gains were mostly due to growth in full-time work.

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