Jobless Rate 7.8% in June

Job market

CBJ – The nation’s economy showed mixed signals in June with more part-time jobs being filled, but there was a decline in full-time work.

Statistics Canada reported an additional 231,000 jobs were created in June, lowering the national jobless rate to 7.8% from 8.2% in May. But the number of full-time jobs declined by 33,000.

In comparing June’s figures to February, 2020 – the last month before massive layoffs due to the pandemic – there are still 336,000 fewer jobs now compared to then.

The vast majority of newly-created jobs were low-paying summer positions taken by young people between the ages of 16 and 24. Figures released by the government agency show a much more subdued employment picture for Canadians over the age of 25 who have been looking for permanent employment.

Canada’s three largest provinces led in job creation with Ontario adding 117,000, Quebec 72,000 and British Columbia 42,000. Saskatchewan lost 7,000 jobs and Manitoba dropped 6,000. PEI shed about 1,000 jobs. The other provinces were essentially flat.

The jobless rate pushed downward to 7.8%, from 8.2% in May, but critics say it’s a false positive, given that full-time employment actually went down and many of the newly-created jobs are seasonal.

@CanBizJournal

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