CANADA GAINS MORE THAN 81,000 JOBS IN AUGUST

Sep 06, 2019

By Gavin Day

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Canada has blown past expectations by gaining more than 81,000 jobs in August, according to Statistics Canada.

Economists had predicted a gain of 15,000 jobs. The unemployment rate, holds steady at 5.7 percent with more people entering the job market.

“This is largely driven by increases in part-time work but we also saw more Canadians joining the labour force, which kept the unemployment rate steady,” said TD wealth analyst Anthony Okolie.

“A bright spot is wages for permanent employees rose 3.8% year over year. About 20,000 jobs were added in the educational services sector, mostly in Quebec. Overall very positive jobs numbers in Canada.”

South of the border, 130,000 jobs were added in August. That’s below the expectation of 150,000. About 25,000 of those jobs were temporary for the 2020 U.S. census.

Unemployment in the U.S. is still at a 50-year low at 3.7% but the less-than-expected job growth has some worried the trade war with China may be starting to affect the U.S. economy and a slowdown is around the corner.

 

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