Labour mar­ket sees ninth-straight monthly gain

Truro Daily News - - CANADA - By andy Blatch­ford the caNa­DiaN preSS

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Canada’s labour mar­ket posted its ninth­straight month of job gains in Au­gust to give the econ­omy its long­est monthly growth streak since be­fore the fi­nan­cial cri­sis nine years ago.

Statis­tics Canada says last month’s in­crease of 22,200 jobs also helped nudge the un­em­ploy­ment rate down from 6.3 per cent in July to a nine-year low of 6.2.

But Fri­day’s data showed the Au­gust growth was fu­elled by less-de­sir­able work, as the econ­omy gained 110,400 part-time jobs and shed 88,100 full-time po­si­tions.

The agency said most of the de­cline in full-time work was con­cen­trated among young Cana­di­ans aged 15 to 24 years old. The youth cat­e­gory also showed a no­table de­crease last month in par­tic­i­pa­tion as fewer young peo­ple looked for work.

The Au­gust num­bers also showed a de­cline of 10,400 paid em­ployee po­si­tions, while the num­ber of peo­ple who de­scribed them­selves as self-em­ployed, in­clud­ing un­paid work­ers in fam­ily busi­nesses, in­creased by 32,700.

“While very solid on the sur­face, the de­tails of this re­port are gen­er­ally slug­gish, leav­ing a mixed bag,” BMO chief econ­o­mist Doug Porter wrote in a re­search brief for clients.

Look­ing at the big­ger pic­ture, the lat­est num­bers said the labour mar­ket ex­panded 2.1 per cent com­pared to a year earlier with the ad­di­tion of 374,300 net new jobs. Of those new jobs, 213,400 were full time.

The data pro­vided yet an­other sign the econ­omy con­tin­ued to have mo­men­tum after a stronger-than-ex­pected start to 2017 that has also prompted two in­ter­est rate hikes by the Bank of Canada.

The lat­est rate in­crease came earlier this week after a re­port showed Cana­dian eco­nomic growth ex­panded at an an­nual pace of 4.5 per cent from April to June.

Last month’s labour data showed wages grew 1.8 per cent last month com­pared to a year earlier for the big­gest in­crease since last Oc­to­ber.

By in­dus­try, the ser­vices sec­tor gained 35,900 jobs while the num­ber of fac­tory po­si­tions fell by 13,700. The goods-sec­tor Canada’s labour mar­ket posted its ninth­straight month of job gains in Au­gust to give the econ­omy its long­est monthly growth streak since be­fore the fi­nan­cial cri­sis nine years ago.

Canada’s na­tional un­em­ploy­ment rate was 6.2 per cent in Au­gust. Here are the job­less rates last month by prov­ince (pre­vi­ous month in brack­ets):

■ New­found­land and Labrador 14.7 per cent (15.7)

■ Prince Edward Is­land 8.8 (10.0)

■ Nova Sco­tia 8.9 (7.9)

■ New Brunswick 7.8 (6.5)

■ Que­bec 6.1 (5.8)

■ On­tario 5.7 (6.1)

■ Man­i­toba 4.9 (5.0)

■ Saskatchew­an 6.4 (6.6)

■ Al­berta 8.1 (7.8)

■ Bri­tish Columbia 5.1 (5.3)

slide was led by a loss of 11,100 man­u­fac­tur­ing po­si­tions.

On­tario posted the only no­table gain among prov­inces, while em­ploy­ment de­clined in Nova Sco­tia. The head­line job num­bers were lit­tle changed in the other prov­inces.

“Over­all, as much as it might be ar­gued that the com­po­nents of the re­port were sub-par, job ex­pan­sion con­tin­ues un­abated, re­flect­ing sus­tained eco­nomic mo­men­tum and busi­nesses and con­sumers brim­ming with con­fi­dence,” Des­jardins se­nior econ­o­mist Jimmy Jean wrote in a re­search note.

Cp photo

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