Canada Jobless Rate Lowest Since 2008


The unemployment rate in Canada decreased to 6.3 percent in July of 2017 from 6.5 percent in the previous month and better than market expectations of 6.5 percent. It is the lowest jobless rate since October of 2008. The number of unemployed persons fell by 23.5 thousand while employed rose 10.9 thousand, beating market consensus of a 10 thousand increase

Unemployment decreased by 23,500 to 1,246,800, and employment went up by 10.9 thousand to 18,421,900. Full-time employment increased by 35.1 thousand while part-time employment decreased by 24.3 thousand.

There were more people working wholesale and retail trade (+21,700); information culture and recreation (+18,300); manufacturing (+14,000); transportation (8,400) and natural resources (8,000). In contrast, there were 10,000 fewer people working in agriculture and public administration (-10,300).

The number of employees was little changed in both the private and public sectors. 

Employment rose in Ontario and Manitoba, while it declined in Alberta, Newfoundland and Labrador as well as in Prince Edward Island.

The participation rate decreased slightly to 65.7 percent from 65.9 percent in the previous month.

Statistics Canada |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/4/2017 1:13:51 PM