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.
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…
Alberta still had the lowest June jobless rate in the country which was down to 3.3%, from 3.6%.