June Job Numbers

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economist says global economic reality may finally be catching up to the Canadian job market. Douglas Porter with BMO Capital Markets says he doesn’t want to make too much of a one-month dip in employment. However, he also says it’s clear full-time job growth in Canada is fading.

The economy shed 5,000 jobs in June, pushing the unemployment rate .10 of a percent higher, to 6.2%. Most alarming is the fact that, hidden in the figures from Statistics Canada, is a drop of more than 39,000 full-time jobs.

It is the second month in a row that full-time employment has fallen sharply, with 32,000 such jobs lost in May.

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However, despite the June retreat, Statistics Canada also points out the country has produced 290,000 new jobs in the past 12 months.

On a province by province basis, the BC rate held steady at 4.5%. Finance Minister Colin Hansen says despite forestry cuts jobs were created in tourism and construction…
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Alberta still had the lowest June jobless rate in the country which was down to 3.3%, from 3.6%.

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