Thursday, July 7, 2022

Economy added 94,000 jobs in July, mainly in services: Statistics Canada

OTTAWA—Statistics Canada says the economy added 94,000 jobs in July as public health restrictions continued to be lifted, with gains mainly in Ontario.

The agency says profits were concentrated in the services sector, adding 35,000 jobs in housing and food services.

July’s employment gains were largely in full-time work, which rose 83,000, or half a percentage point, and occurred in many sectors.

The unemployment rate fell to the lowest level since March this year, at 7.5 per cent in July, compared to 7.8 per cent in June.

The result left the country at around 246,400 jobs, or 1.3 percent, below the pre-pandemic employment levels seen in February 2020.

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The number of people long considered unemployed was 244,000 more than before the pandemic and accounted for 27.8 percent of total unemployment.

Royce Mendes, senior economist at CIBC, says July’s growth continues the pattern it started with 231,000 jobs added in June and can be considered a strong gain, boosting employment opportunities during the third wave of the COVID-19 pandemic. Losses can be compensated.

Still, Mendes says the numbers may reflect the labor shortage some employers are reporting, and benefits are likely to remain slow.

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This News Originally From – The Epoch Times

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