Canada adds more jobs than expected, analysts spot weaknesses

'Another head scratcher': ​Canada adds 54100 jobs in July

'Another head scratcher': ​Canada adds 54100 jobs in July

Canada unexpectedly added 54,100 jobs in July and the unemployment rate dipped to equal a record low 5.8 percent, but analysts said the data were weaker than they appeared and played down talk of a rate hike next month.

In Canada, the unemployment rate decreased by 0.2 per cent to 5.8 per cent.

Data collected for the Labour Force Participation Survey showed Windsor's participation rate rose a tenth of a percentage point in July to 60.5 per cent.

OTTAWA-Job creation soared above expectations in July as large gains in part-time, public sector positions helped nudge down the unemployment rate.

Year-over-year the unemployment rate is up from July 2017 when it sat at 6.6 per cent in a labour pool of 40,800 people.

The Canadian economy added a net 54,100 jobs in July on a seasonally adjusted basis, Statistics Canada said Friday.

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In total there were 34,700 who were unemployed in July, up from 34,400 in June. These gains were largely attributed to an overall growth in the number of part time jobs available.

The country gained 82,000 less desirable, part-time positions last month - and it lost 28,000 full-time jobs. Employment in the goods-producing sector fell by 36,500 jobs, mostly in manufacturing.

"In the wacky world of Canada's monthly employment numbers, July came up with another head scratcher, with some big headlines but some disappointments in the fine print", CIBC chief economist Avery Shenfeld wrote Friday in a research note to clients.

The national average saw a 0.2 per cent change from last month's figures as well - but in the opposite direction.

Despite a surge in part-time employment across the nation offsetting full-time declines and pushing down Canada's unemployment rate, the numbers paint a less-than-rosy picture in Saskatchewan and Prince Albert. The report said the main cause of the drop was due to the fact fewer young people were looking for work.

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