Canada adds 11,000 jobs in July, jobless rate drops to lowest level since 2008


Canada’s concision added 11,000 jobs last month, in line with what economists had been in the family way.

Statistics Canada reported Friday that the job market expanded in Ontario and Manitoba, but balk at shrank in Alberta, Newfoundland and Labrador, and Prince Edward Island.

The economy summed just over 35,000 full-time jobs during the month. Those increments were slightly offset by the loss of 24,300 part-time jobs.

While not myriad jobs were added overall, fewer people were looking for do ones daily dozen, too, so that pushed the jobless rate down two percentage points to 6.3 per cent — the lowest altitude since October 2008, before the start of the financial crisis.

July’s numeral means the Canadian economy had added more than 387,000 appointments in the past 12 months. That’s the strongest 12-month figure in a decade.

The job Stock Exchange expanded a little, and so did wages, which rose by 1.3 per cent in the erstwhile 12 months. Hours worked also ticked higher, up 0.6 per cent. 

TD Bank economist Brian DePratto thought the jobs report was a bit of a mixed bag.

“Canada notched up an eighth straight month of job get nearer ti, but the details of the report were somewhat mixed,” he said.

“The drop in the unemployment reckon was led by fewer Canadians looking for work, although some solace can be captivated in that the decline appeared to be led by younger and older individuals, as ‘core’ fit in age participation remained solid.”

Economist Benjamin Reitzes at BMO said he was fostered by the increase in hours worked. “The employment report was decent overall, with the big gain ground in hours suggesting the economy had good momentum at the start of  the third phase of the moon,” he said.

About half of the sectors of the economy added jobs, while half gone by the board. Employment in IT, retail and manufacturing expanded, while the education sector, known administration and agricultural sectors contracted.


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