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- Canada adds 230,700 new jobs in June; unemployment rate drops to 7.8 percent
Canada adds 230,700 new jobs in June; unemployment rate drops to 7.8 percent
Statistics
Canada reported on Friday that the number of employed people increased by 230,700
m-o-m in June (or +1.2 percent m-o-m) after an unrevised decrease of 68,100
m-o-m in the previous month.
Economists
had forecast a gain of 195,000 m-o-m.
Meanwhile,
Canada's unemployment rate fell to 7.8 percent in June from 8.2 percent in May,
missing economists’ forecast for 7.7 percent. This was the lowest rate since March.
According
to the report, full-time employment declined by 33,200 (or -0.2 percent m-o-m)
in June, while part-time jobs surged by 263,900 (or +8.0 percent m-o-m).
In June,
the number of public sector employees rose by 43.200 (or +1.1 percent m-o-m), and
the number of private sector employees went up by 250,500 (or +2.1 percent
m-o-m). Meanwhile, the number of self-employed fell by 63,100 (or -2.3 percent
m-o-m) last month.
Sector-wise,
employment increased in the services-producing sector (+1.9 percent m-o-m) but
dropped in the goods-producing business (-1.2 percent m-o-m).
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