Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UPDATE 1-Canada jobs growth slows in July, unemployment rate lowest since global crisis

Published 2017-08-04, 08:47 a/m
Updated 2017-08-04, 08:50 a/m
© Reuters.  UPDATE 1-Canada jobs growth slows in July, unemployment rate lowest since global crisis

© Reuters. UPDATE 1-Canada jobs growth slows in July, unemployment rate lowest since global crisis

OTTAWA, Aug 4 (Reuters) - Job growth in Canada slowed in July after two consecutive months of strong gains, while fewer people looking for work sent the unemployment rate to its lowest level since October 2008 when the global financial crisis was taking hold, data from Statistics Canada showed on Friday.

The economy added 10,900 jobs last month, nearly in line with economists' forecasts for a gain of 10,000. The unemployment rate fell to 6.3 percent from 6.5 percent as the participation rate edged down.

Still, Canada's labor market has picked up in the last year, adding 387,600 jobs since last July, with 353,500 of those full-time positions.

The Bank of Canada raised interest rates last month for the first time in nearly seven years amid an improving jobs picture and signs the economy has all but recovered from 2015's oil price shock.

July's job gains were driven by increased hiring in the services sector, with the trade industry adding 21,900 new jobs. Other employment gains in the services industry included the information and culture sector as well as transportation and warehousing.

Among goods-producing industries, the manufacturing sector created 13,700 new jobs, while natural resources, including the oil and gas sector, saw hiring increase by 8,000.

Graphic - Canada jobs, unemployment

http://link.reuters.com/fax39t Graphic - Full-time vs. part-time

http://link.reuters.com/pev29v Graphic - Temporary vs. permanent

http://link.reuters.com/xuf98v Graphic - Canada economic snapshot

http://tmsnrt.rs/2e8hNWV

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.