Canada Jobs Little Changed in June After Record Gain

Canadian employment was little changed in June, government figures showed, following the biggest gain in a decade the month before.

Employment fell by 400 last month after May’s surge of 95,000 while the jobless rate was unchanged at 7.1 percent, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg News projected a 7,500 job decline and an unchanged jobless rate, according to median forecasts of surveys with 20 responses.

The report adds to other evidence of an inconsistent expansion, including a record string of 17 monthly trade deficits and inflation that has been below the central bank’s 2 percent target for more than a year.

Job gains have slowed so far this year, with the average monthly gain of 14,000 less than the 27,000 recorded in the second half of last year, Statistics Canada said.

Full-time employment fell by 32,400 in June, following a 76,700 gain the prior month. Part-time positions rose by 32,200, Statistics Canada said.

Private companies cut 5,300 workers last month after May’s 94,600 increase, while public-sector employment rose by 1,000.
By industry, construction employment rose by 1,400 in June after May’s gain of 42,700. The biggest rise was the 27,000 increase for professional, scientific and technical workers and declines were led by accommodation and food services at 20,300.
Workers designated by Statistics Canada as employees fell by 4,400 after May’s 101,200 surge. The self-employed category rose by 4,000.

Bloomberg

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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
Dean Popplewell

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