Canada sheds 51,600 jobs to push up unemployment rate, but full-time work rises
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.
New Brunswick's unemployment rate went up by eight-tenths of a percentage point in August to 8.3 per cent.
The province had a net gain of 700 part-time positions, but posted a net loss of 1,700 full-time jobs, and the labour force grew by 2,000