Canadian wage growth climbs to highest mark since 2009, but economy sheds jobs

Statistics Canada

Canada lost 24,200 jobs last month and its unemployment rate moved up to 5.7% to give the economy its weakest three-month stretch of job creation since early 2018.

On the positive side, Statistics Canada says July's wage growth came in strong at 4.5%, which was its highest level in more than a decade.

The agency's latest labour force survey found that job creation was nearly flat between May and July, a period that saw Canada add an average of 400 jobs per month.

The economy had a been on a healthy run of employment gains that began last summer.

Even with the July decline, compared to a year earlier, the numbers show Canada added a healthy dose of 353,000 new positions, almost all of which were full time.

Year-over-year average hourly wage growth for all employees was 4.5% in July, the indicator's strongest month since January 2009.

In New Brunswick, the unemployment rate rose seven tenths of a per cent to sit at 8.5% in July.

The provincial economy lost 7,300 net full-time jobs.

(With files from Bell Media's Charles Renshaw)