NewsAlert: Canada loses 24,200 jobs in July, unemployment rises: Statcan

The Canadian Press

The Canadian Press

Employment in the province has "little changed" since July 2018.

The country lost 24,200 jobs in July, Statistics Canada said Friday in Ottawa, versus expectations for a gain of about 15,000.

Wage growth accelerated last month to its fastest clip in more than decade, according to numbers released Friday from Statistics Canada.

Even with the July decline, compared to a year earlier, the numbers show Canada added 353,000 new positions - nearly all of which were full time - for an encouraging overall increase of 1.9 per cent.

"Additionally, B.C. now has the third-highest hourly wage in the country at $27.59 per hour, up almost a dollar from a year ago".

Since July 2018, employment in the country is up by 1.9 per cent or 353,000 largely full-time jobs, but across Canada employment in the natural resources sector is down 4.5 per cent since previous year.

This continues a positive trend locally, as the unemployment rate in May was 5.9 per cent.

"Still, the fact that employment is cooling notably after a powerful run, and the jobless rate looks to be edging up again, hands the Bank flexibility to respond if global trade risks mount further and we see more signs of domestic economic weakness", he wrote. The agency cautions, however, that the recent monthly readings have been small enough that they're within the margin of error and, therefore, statistically insignificant.

How does Canada's labour market feel compared to a year ago?

Employment fell in Alberta, Nova Scotia and New Brunswick, increased in Quebec and Prince Edward Island and was steady in the rest of the country.

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