Canada Jobless Rate Falls to 5.8% in July



The unemployment rate in Canada decreased to 5.8 percent in July of 2018 from 6.0 percent in the prior month and below market expectations of 5.9 percent. The jobless rate fell back to its lowest on record, as employment increased by 54,000, after creating 31,800 in June and beating market consensus of 17,000, mainly due to gains in part-time work (+82,000) while full-time fell by 28,000.

Employment rose in mainly in Ontario (+61,000), British Columbia (+11,000) and Newfoundland and Labrador (+2,400). In Quebec and other provinces employment was almost unchanged.

There were employment increases in a number of services-producing industries, namely educational services (+37,000); health care and social assistance (+31,000); information, culture and recreation (+12,000) and "other services" (+11,000). On the other hand, employment declined in most goods-producing industries, mainly  manufacturing (-18,000); construction (-12,000) and natural resources (-5,300). 

The number of public sector employees went up by 50,000, while the number of employees in the private sector and self-employed workers were almost unchanged.

In July, employment advanced for the core-aged population (25 to 54) by 35,000, driven by women (+30,000). Also, for women aged 55 and older employment edged up by 12,000, while for men was held steady and also for all youth aged 15 to 24.

The labour force participation rate declined to 65.4 percent from 65.5 percent in June, in line with market consensus.

Canada Jobless Rate Falls to 5.8% in July


Statistics Canada | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/10/2018 1:07:29 PM