CANADA Lost Jobs in July, Unemployment Rate Rises
CANADA Lost Jobs in July, Unemployment Rate Rises The Canadian economy unexpectedly lost 31,0 last month, driven by a decline in full-time jobs who sent the unemployment rate up to 6.9 percent, Statistics Canada data showed Friday.
The decline in employment in July came well below economists' expectations for a gain of 10,000. The increase in the unemployment rate, the highest since May, came even as the participation rate declined slightly to 65.4 percent.
The decline in employment was led by a 24,0 drop in employment in the public administration industry, helping service sector shed 26,00 jobs overall. But the goods-producing industries fared poorly as well, with natural resources lose 3,00 jobs, while employment in construction decreased by 9,000.
A 71,400 drop in full-time positions accounted for the general weakness of the labor market, while part-time jobs increased by 40,0.
Reuters
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