Money Canadian economy adds 31,800 jobs in June

16:06  06 july  2018
16:06  06 july  2018 Source:   msn.com

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June 8, 2018 9:33 am. The economy lost 7,500 jobs in May as a drop in full-time employment was only partially offset by an increase in part-time jobs , Statistics Canada said Friday. Regionally, Prince Edward Island added 800 jobs for the month, while employment in B.C. fell by 12,000 for the month.

Statistics Canada reports the Canadian economy added 93,200 jobs in June . The addition of 93,200 jobs is five times more what many economists were predicting for the month of June . About half the jobs added are part-time, the other half are full-time positions.

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OTTAWA - A healthy gain of 31,800 jobs last month wasn't enough to keep Canada's unemployment rate from rising to six per cent as more people searched for work.

Statistics Canada's latest labour force survey showed the jobless rate for June increased from 5.8 per cent in May to break the six per cent barrier for the first time since last October, when it was 6.2.

The unemployment rate moved up last month despite the addition of new jobs because nearly 76,000 more people entered the workforce.

The report also says average hourly wage growth, which is closely watched by the Bank of Canada, remained strong last month at 3.6 — although it did come down from its nine-year high in May of 3.9 per cent.

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High school senior Sammy Moore, of Hermiston, Ore., sorts sprinkler heads in a shop while working his summer job at Golden Valley Farm outside of Stanfield, Ore. on June 29, 2018 (E.J. Harris/East "It's not your father's labor market anymore," said Diane Swonk, chief economist at Grant Thornton.

The economy lost 31 ,200 jobs in July as the number of workers with full-time jobs fell dramatically and fewer younger Canadians were employed, Statistics Canada reports. The unemployment rate ticked up to 6.9 per cent, up from 6.8 per cent in June , an increase in line with economists ' forecasts.

A closer look at the numbers shows Canada added 9,100 full-time jobs in June and 22,700 part-time positions. The public sector gained 11,800 jobs and the private sector lost 2,000.

Compared with a year earlier, overall employment was up 1.2 per cent following the creation of 214,900 jobs, which was driven by 284,100 new full-time positions.

The latest jobs report comes less than a week before the Bank of Canada makes its next interest-rate decision. Expectations have grown that governor Stephen Poloz will raise the benchmark for the first time since January.

Inflation steady as U.S. labour market remains strong .
U.S. consumer prices barely rose in June, but the underlying trend continued to point to a steady buildup of inflation pressures that could keep the Federal Reserve on a path of gradual interest rate increases. Other data Thursday showed first-time applications for unemployment benefits dropped to a two-month low last week as the labor market continues to tighten. The Fed raised interest rates in June for a second time this year and has forecast two more rate hikes before the end of 2018. "U.S.

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