Canada’s disappointing Job report

Following two months of little change, employment in July declined by 30,000, the result of losses in part-time work. The unemployment rate rose 0.1 percentage points to 7.3%.

Compared with 12 months earlier, employment increased 0.8% or 139,000, with full-time employment up 1.4% while part-time employment declined 1.8%. Total number of hours worked increased 1.2% over the same period.

Employment losses in July were in wholesale and retail trade; professional, scientific and technical services; public administration; and natural resources. These losses were partly offset by gains in information, culture and recreation as well as in finance, insurance, real estate and leasing.

In July, employment declined in Quebec, British Columbia, Manitoba as well as in Newfoundland and Labrador, while it increased in Prince Edward Island. There was little change in the other provinces.

Losses were concentrated among women aged 55 and over, while employment was virtually unchanged among the other major demographic groups.

There was little change in employment in both the public and private sectors in July. Compared with 12 months earlier, employment in the public sector increased by 2.1%, while private sector employees and self-employment were little changed.

Stats Canada report

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell