Recap: June Job News Posted on: 13-07-2015

undefined

 

The Canadian economy lost 6,400 jobs in June as a strong gain in full-time employment failed to fully offset losses in part-time jobs, Statistics Canada said Friday.

The unemployment rate held steady at 6.8 per cent.

Economists had expected a loss of 10,000 jobs and the unemployment rate to creep up to 6.9 per cent, according to Thomson Reuters.

The overall loss in jobs came as the number of full-time jobs increased by 64,800. However, there were 71,200 part-time jobs lost in the month. The better-than-expected jobs report comes amid concerns about the strength of the economy and speculation the country slipped into recession in the first half of the year.

It is the last major economic data point before the Bank of Canada makes its rate announcement and releases its monetary policy report next Wednesday. The central bank is widely expected to cut its economic outlook for the year, but it is less clear what it will do with its key interest rate.

Regionally, Quebec lost 33,300 jobs and New Brunswick lost 3,500. British Columbia gained 15,400, while Newfoundland and Labrador added 4,300. Ontario added 14,000 jobs for the month.

The wood industry is on the rise, aiming to hire 60,000 people by the end of the decade.

Check back next month for the latest in Canadian job news.

 

Connect with Us