techkenyot.com
techkenyot.com August 16, 2018


Canada adds 54,000 jobs in July

13 August 2018, 02:02 | Hattie Nash

Montreal unemployment rate inches up in July

'Another head scratcher': ​Canada adds 54100 jobs in July

In Vancouver the unemployment rate rose from 4.6 per cent in June to 4.8 per cent in July.

Meanwhile, the closely watched tech sector collectively shed 2,800 employees.

According to Statistics Canada, a total of 124,200 people reported they were employed in a part-time position, a drop from the 128,300 that reported being part-time workers in July.

The unemployment rate in the Montreal region was 6.2 per cent in July, Statistics Canada said on Friday, up 0.4 percentage points from the previous month.

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Less desirable part-time jobs made up for the bulk of the gain with 82,000 positions created, offsetting a loss of 28,000 full-time jobs.

Data for metropolitan areas is adjusted for seasonal influences but based on the average of the three most recent monthly samples.

It is up 0.1 per cent from July 2017.

On the Bank of Canada, he said, "We're still a ways away from the next Bank of Canada rate decision, but with this first glimpse of third quarter activity kicking things off more or less on the right foot, the conditions remain right for further rate increases". CIBC predicts the next rate increase will land in October as the central bank continues to proceed cautiously along its rate-hiking path.

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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. Employment in the goods-producing sector fell by 36,500 jobs, mostly in manufacturing.

One question policy makers have been seeking to answer is how much slack remains in the labour market, and whether a tightening jobs market could prompt the Bank of Canada to raise interest rates and trigger a slowdown in growth.

While slightly higher than the provincial average, Winnipeg saw its unemployment rate drop, from 6.8 to 6.7 per cent in the month of July. The education jobs fuelled much of the gain in Ontario, Statistics Canada said.

Employment also rose in British Columbia and Newfoundland and Labrador, while Saskatchewan and Manitoba lost jobs last month. That was better than estimates of 17,000 added jobs and an unemployment rate of 5.9 per cent. The report said the main cause of the drop was due to the fact fewer young people were looking for work.

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Compared with a year earlier, overall employment was up 1.3% following the addition of 245,900 jobs for an increase driven by 210,500 new full-time positions.



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