Canada sheds 51,600 jobs to push up unemployment rate, but full-time work rises
OTTAWA - The Canadian economy lost 51,600 net jobs last month in a decrease that drove up the unemployment rate and essentially wiped out the big gain in July.
Statistics Canada's labour force survey says the jobless rate hit six per cent in August, up from 5.8 per cent in July.
Economists had expected an increase of 5,000 jobs for the month and the unemployment rate to be 5.9 per cent, according to Thomson Reuters Eikon.
The employment drop last month was fuelled by a loss of 92,000 part-time positions -- but on the positive side the number of full-time jobs rose by 40,400.
The August decline followed a comparable net increase of 54,100 positions in July.
Ontario experienced the biggest decrease of the provinces by far with a loss of 80,100 jobs -- almost all of which were part-time positions.
Ottawa's jobless rate rose to 4.6 per cent in August from July's 4.3 per cent.
A quick look at August employment (numbers from the previous month in brackets):
- Unemployment rate: 6.0 per cent (5.8)
- Employment rate: 61.4 per cent (61.6)
- Participation rate: 65.3 per cent (65.4)
- Number unemployed: 1,195,200 (1,160,400)
- Number working: 18,630,500 (18,682,100)
- Youth (15-24 years) unemployment rate: 10.9 per cent (11.1)
- Men (25 plus) unemployment rate: 5.4 per cent (5.2)
- Women (25 plus) unemployment rate: 5.1 per cent (4.8)