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- Canada adds 245,800 new jobs in August; unemployment rate drops to 10.2 percent
Canada adds 245,800 new jobs in August; unemployment rate drops to 10.2 percent
Statistics
Canada reported on Friday that the number of employed people surged by 245,800
m-o-m in August (or +1.4 percent m-o-m) after an unrevised increase of 418,500
m-o-m in the previous month. Economists had forecast an increase of 275,000
m-o-m.
Meanwhile,
Canada's unemployment fell to 10.2 percent in August from 10.9 percent in July,
slightly worse than economists’ forecast for 10.1 percent.
According to
the report, full-time employment climbed by 205,800 (or +1.4 percent m-o-m) in August,
while part-time jobs rose by 40,000 (or +1.2 percent m-o-m).
In August, the
number of public sector employees increased by 28,300 (or +0.7 percent m-o-m),
while the number of private sector employees surged by 275,500 (or +2.4 percent
m-o-m). At the same time, the number of self-employed declined by 58,000 (or -2.1
percent m-o-m) last month.
Sector-wise,
employment increased both in goods-producing (+0.7 percent m-o-m) and
service-producing (+1.5 percent m-o-m) businesses.
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