Job Market Flat in June
CBJ — Canada’s economy shed 700 positions in June, but the number of people seeking work also fell, and because of that the unemployment rate actually edged down to an 11-month low of 6.8%.
Statistics Canada data underlines the challenges facing an economy trying to adjust to weak oil prices that have depressed demand and led to layoffs in the energy industry. The labour participation rate dropped to 65.5%, the lowest since December 1999.
Full-time positions dropped by 40,100 while part-time jobs rose by 39,400. The construction and manufacturing sectors lost 28,700 and 12,900 jobs respectively while accommodation and food services grew by 20,200 positions.