August 17, 2018 – Canada’s economy created 54,100 jobs in the month of July, as the unemployment rate fell to 5.8%.
Including the Statistics Canada report for July 2018, jobless rates in Canada have remained at four-decade lows for five out of seven months in 2018.
Yet, Canada actually lost 28,000 full-time jobs in the month and the healthy headline number boosted by addition of 82,000 new part-time jobs to the economy.
Ontario, British Columbia, and Newfoundland & Labrador added jobs to their economies while the weak provinces included Quebec, Manitoba, Alberta, and New Brunswick.
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July saw an increase of 34,600 jobs for core-age Canadians (25-54 years). Yet, this age-group actually lost 24,200 full-time jobs, which was compensated by creation of 59,400 part-time jobs for the month.
Among core-age women, unemployment rate fell by 0.3% to 4.9% due to addition of 30,300 jobs to influx of 16,000 new workers in this age-group into the economy.
Number of workers aged 15-24 years fell by 11,900, which contributed to a 0.6% fall in unemployment rate despite addition of just 4,600 jobs as compared to June 2018.
Canada Jobs Market Snapshot
Unemployment rate (%) | 5.8 |
Employment rate (%) | 61.6 |
Labour force participation rate (%) | 65.4 |
Number unemployed | 1,160,400 |
Number working | 18,682,100 |
Youth (15-24) unemployment rate (%) | 11.1 |
Men (over 25) unemployment rate (%) | 5.2 |
Women (over 25) unemployment rate (%) | 4.8 |
Source: Statistics Canada
Conflicting Trends In Provincial Data
In terms of job creation, Ontario outperformed all other provinces by adding 60,600 jobs while Manitoba, Saskatchewan, and Quebec lagged behind.
Ontario reduced its unemployment rate by 0.5% followed by British Columbia (0.2%) and Manitoba and Newfoundland and Labrador at 0.1% each.
Prince Edward Island saw unemployment rate rise by 0.6% while Saskatchewan, Alberta, and Quebec lagged at 0.3%, 0.2%, and 0.2% respectively.
How Canadian Provinces Fared in July 2018?
Jobs change July | Unemployment rate (%) | |
1) British Columbia | 11,200 | 5.0 |
2) Quebec | -8,400 | 5.6 |
3) Ontario | 60,600 | 5.4 |
4) Manitoba | -3,600 | 6.0 |
5) Saskatchewan | -4,200 | 6.6 |
6) Alberta | -3,600 | 6.7 |
7) New Brunswick | -1,700 | 7.5 |
8) Nova Scotia | 1,000 | 8.0 |
9) Prince Edward Island | 300 | 9.5 |
10) Newfoundland & Labrador | 2,400 | 15.4 |
CANADA | 54,100 | 5.8 |
Source: Statistics Canada
Like the headline job creation and full-time job creation number, there is a similar disconnect when provinces are compared on basis of number of full-time jobs added over the month.
Job Change vs. Full-time Job Creation in Provinces
Jobs change July | Full-time employment | |
1) British Columbia | 11,200 | 9,600 |
2) Quebec | -8,400 | 14,700 |
3) Ontario | 60,600 | -19,600 |
4) Manitoba | -3,600 | 3,500 |
5) Saskatchewan | -4,200 | -7,700 |
6) Alberta | -3,600 | -21,700 |
7) New Brunswick | -1,700 | -3,400 |
8) Nova Scotia | 1,000 | -1,700 |
9) Prince Edward Island | 300 | 200 |
10) Newfoundland & Labrador | 2,400 | -1,700 |
CANADA | 54,100 | -28,000 |
Source: Statistics Canada
Ontario, which ranked high in terms of job creation and reduction in unemployment actually lost a staggering 19,600 jobs, second only to Alberta that lost 21,700 jobs.
Quebec’s performance in July looks better considering it added 14,700 full-time jobs, which means job losses occurred primarily in the part-time sector.
British Columbia is the only province that saw its employment market improve due to creation of full-time jobs in the province.
What Are Canada’s Best Performing Industries?
Granular analysis of industry-wise data too throws up a mixed picture. Goods-producing industries lost 36,500 jobs in July 2018 with manufacturing and construction worst hit with 18,400 and 12,300 fewer jobs.
The services sector outshone with 90,500 new jobs in July and 216,900 jobs between June 2017 and July 2018.
Bulk of new jobs for July came from educational services with 36,500 jobs. This industry contributed the highest number of new jobs on a year-to-date basis as well.
For July, health care was the next best service industry with 30,700 new jobs.
The public sector contributed lion’s share of job creation with 49,600 jobs while the private sector contributed to just 9.5% of all jobs created in July.
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