8/5/2016, 4:06 PM (Source: TeleTrader)
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Canada loses 31,000 jobs in July

Employment in Canada declined by 0.2% in July, as the country lost 31,000 jobs. Unemployment rate increased 0.1 percentage point to an annual rate of 6.9%, according to data provided by Statistics Canada on Friday.

Full-time employment fell by 71,000 from June to July, while part-time work was up by 40,000, said the report. Of that, public sector shed 42,000 jobs, but was unchanged year-over-year.

Losses were notable in Ontario, Newfoundland and Labrador, while employers opened new posts in British Columbia and New Brunswick.

In the 12 months ending in July, Canadian employers opened 71,000 new jobs, but the rise of 0.4% was all in part-time work. The total number of hours worked increased by 0.4%.

Employment dropped by 28,000 among persons aged 15-24 years, with unemployment rate of 13.3% in the group, which in turn lost 1%, or 45,000, of its population.

Statistics Canada noted that wildfire in Fort McMurray region in northern Alberta affected the report following evacuation of residents, indicating influence of the event.

Baha Breaking News (BBN) / ZR