Jobless rate holds steady
The Canadian economy added 15,200 jobs in August to keep Canada’s unemployment rate steady at 6.1 per cent. The August results were being closely watched because the two previous months had shown declines in employment. Statistics Canada reported Friday that last month’s net employment gains were mostly full-time private sector jobs. The private sector had lost 95,000 jobs in July, but added 40,900 in August. However, public-sector employment fell by 23,900 in the same period.
In Ontario, two months of declines were reversed as the province added 14,000 net jobs. The manufacturing sector also showed a bounce as it added 13,800 jobs.
But Statistics Canada also noted that Canada has created only 87,000 new jobs this year compared to more than 220,000 in the first eight months of 2007. In July, the economy lost 55,000 jobs.
“The July number was horrid,” Carolyn Kwan, senior economist with Merrill Lynch Canada, told The Canadian Press before the August numbers were released.
Economists warn against giving too much weight to any single month. However, the August job numbers offer some relief for Prime Minister Stephen Harper’s government, which is expected to call an election this weekend.
“The economy is the Achilles heel of this government,” Canadian Auto Workers economist Jim Stanford told The Canadian Press ahead of the StatsCan report.
Statistics Canada also reported that:
- 86,000 jobs were created this year in construction. The key labour market showed a 7.4 per cent increase from the same period last year.
- Employment dropped by 22,000 jobs in health care and social assistance in August.
- Jobs in agriculture were down 18,000 in August.
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