Canadian Economy Adds 81,100 New Jobs, Part-time & Full-time
The Canadian economy posted over 81,100 new jobs in August, the bulk of which were part-time, in the services sector and picked up by young people, effectively reducing the unemployment rate at 5.7 per cent. Canada has now added 471,000 jobs in the previous year, a surge of 2.5 per cent. Quebec was the outstanding performer on the provincial level, with its unemployment rate reducing to 4.7 per cent.
The Francophone province now has the smallest unemployment rate of all Canada’s provinces, having toppled British Columbia into the top spot.
Demographically, the employment rate among young people aged between Fifteen (15) and twenty-four (24) saw the sharpest increase in August, expanding by 42,000. Youth employment has gone up by 75,000 jobs in the last year, a rise of three (3) per cent.
There were also employment gains for the Fifty-five (55) and over age bracket, which added more 22,000 jobs in August for a twelve (12)-month consolidated rise of 195,000, or 4.9 per cent. At the same time, the core-aged population of twenty-five (25) to Fifty-four (54) year-olds saw minimal change in August, with unemployment holding up high at 4.7 per cent.
What Are The Labour Force Survey Statistics?
|
Unemployment rate (%) |
5.7 |
|
Employment rate (%) |
62.0 |
|
Labour force participation rate (%) |
65.8 |
|
Number unemployed |
1,160,100 |
|
Number working |
19,111,500 |
|
Young people (15-24) unemployment rate (%) |
11.5 |
|
Men (over 25 yrs) unemployment rate (%) |
5.1 |
|
Women (over 25 yrs) unemployment rate (%) |
4.4 |
Canada’s Provincial Jobs Picture
Among the provinces, Quebec and Ontario saw outstanding improvements, while Saskatchewan, Manitoba, and New Brunswick all recorded a minimal jobs increase. Canada’s largest province saw 57,800 jobs added in August, all in part-time work led by retail trade and wholesale. Ontario employment has now increased by 250,000, or 3.5 per cent in the previous year, with an unemployment level rate of 5.6 per cent.
Quebec saw a rise for the 2nd consecutive months, this time gaining 19,700 jobs. Its unemployment rate of 4.7 per cent is the lowest since comparable data became accessible in 1976. Quebec has now added 112,000 more jobs in the previous year, an increase of 2.6 per cent.
Canadian Economy: Province that has the lowest unemployment rate
|
Jobs change in August |
Unemployment rate (%) |
|
|
1) Quebec |
19,700 |
4.7 |
|
2) British Columbia |
-8,300 |
5.0 |
|
3) Saskatchewan |
2,800 |
5.1 |
|
4=) Ontario |
57,800 |
5.6 |
|
4=) Manitoba |
5,200 |
5.6 |
|
6) Alberta |
600 |
7.2 |
|
7) Nova Scotia |
1,500 |
7.9 |
|
8) New Brunswick |
2,300 |
8.6 |
|
9) Prince Edward Island |
-100 |
8.9 |
|
10) Newfoundland & Labrador |
-300 |
13.1 |
|
CANADA |
-81,100 |
5.7 |
Elsewhere, Manitoba added 5,200 jobs for an unemployment rate of 5.6 per cent. In the previous year, the province only added 5,600 jobs, a 0.9 per cent increase. Saskatchewan saw jobs rise of 2,800, with its unemployment rate falling to 5.1 per cent. The province has added 13,000 jobs in the previous year, a rise of 2.2 per cent. Meanwhile, New Brunswick, also added 2,300 jobs in August, with an unemployment rate of 8.6 per cent, effectively improving the Canadian economy.
Canada Jobs By Industry
The insurance, finance, real estate, rental and leasing sector saw an employment rise of 22,000 in August, bringing remarkable gains to 46,000 in the previous year, a rise of 3.9 per cent. The August increases were mainly in Quebec and Ontario. Quebec also saw outstanding increases in the educational services sector, with 21,000 more jobs added in August, for a rise of 35,000 jobs on the year, an improvement of 2.6 per cent.
Technical, Professional, scientific services saw August jobs rise of 17,000, largely concentrated in British Columbia. The sector has added 109,000 jobs in the previous year, an increase of 7.4 per cent.
