September 8, 2017 – Canada’s unemployment rate edged down again in August to 6.2 per cent, bettering the record set in July for the lowest rate since before the 2008 downturn, Canada jobs data shows.
Across the country, 22,200 jobs were added over the month, with unemployment rate drops for both men and women over 25, the core component of Canada’s workforce, according to Statistics Canada.
The number of people in part time work increased by 110,000, while those in full time work saw an 88,000 decrease. The part time work increase was spread across all demographics, while the full-time work decrease was concentrated in young people.
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Over the last year, employment has risen by 374,000, or 2.1 per cent, with increases in both full and part time work.
Men and women aged 55 and over again saw notable gains, as the labour market figures continue to reflect Canada’s aging population. In contrast, young people aged 15 to 24 saw their employment decline.
Canada’s Jobs Snapshot
|End July||End August|
|Unemployment rate (%)||6.3||6.2|
|Employment rate (%)||61.6||61.6|
|Labour force participation rate (%)||65.7||65.7|
|Youth (15-24) unemployment rate (%)||11.1||11.5|
|Men (over 25) unemployment rate (%)||5.6||5.5|
|Women (over 25) unemployment rate (%)||5.5||5.2|
Source: Statistics Canada
Canada Jobs Provincial Picture
Provincially, Ontario was the start performer with more than 31,000 jobs added. The most populous province has now seen jobs increases in three out of the last four months, with its 5.7 per cent unemployment rate the lowest since 2001. Employment is up 154,000, or 2.2 per cent, on the year, during which time the unemployment rate has fallen by a full percentage point.
While there was little change in Manitoba, the unemployment rate fell by 0.1 per cent, making it the only province to record a rate below the 5 per cent barrier.
Quebec’s employment shrunk slightly by 6,000 jobs, but the steady unemployment rate of 6.1 per cent remains nearly one per cent lower than a year ago. The French-speaking province has added 93,000 jobs in over the last year.
More people searching for work drove the Alberta unemployment rate up to 8.1 per cent in August, although the province has added 34,000 jobs over the last year. This is significant as the oil rich province battles to put economic struggles in the past. Key gains came in industries such as transportation and warehousing, manufacturing and natural resources.
Jobs Data in the Provinces
|Jobs change August||Unemployment rate (%)|
|2) British Columbia||-1,200||5.1|
|6) New Brunswick||-500||7.8|
|8) Prince Edward Island||300||8.8|
|9) Nova Scotia||-5,600||8.9|
|10) Newfoundland & Labrador||1,400||14.7|
Source: Statistics Canada
Canada Jobs by Industry
Finance, insurance, real estate, rental and leasing saw a significant gain of 15,000 jobs in August. Over the last 12 months, the industry has added 47,000 jobs for 4.2 per cent growth.
Transportation and warehousing saw employment increase by 9,800 in August. The industry also saw significant growth on the year, adding 44,000 jobs, or growth of 4.8 per cent.
A significant gain was also seen in the self-employed sector, adding 33,000 jobs for a year on year gain of 101,000, or 3.7 per cent. The public and private sectors both held steady in August to consolidate healthy year-on-year gains.
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