E Canada Had A Jobs Rebound In June, But Short-Term Outlook Less Encouraging

“After an impressive performance in 2017, the Canadian labour market definitely took a breather in the first half of 2018. Total employment registered its worst start of the year in the current expansion due to the 48K drop in private-sector jobs. Major cities were not immune to the slump: Vancouver is down 45K jobs this year and Toronto has seen a pullback of 24K. (National Bank Financial, July 6, 2018)

Total Canadian employment increased by 32,000 in June and the unemployment rate rose to 6%.

Though the monthly job gain was rather strong, nonetheless full-time employment only increased by 9,000 while part-time workers increased by 23,999. There was a 12,000-monthly increase in employment in the public sector and a 22,000 expansion in self-employment. Private sector employment was essentially flat in June.

On an industrial basis employment in the goods sector increased by nearly 47,000 new workers with increases centered in construction, manufacturing, resources and utilities. The service producing industries shed 15,000 jobs in June.  

On a regional basis, it was Ontario that drove the national jobs increase, adding 34.9k positions. Job increases elsewhere were more modest by comparison., while Quebec and British Columbia experienced job losses in June.

Disclosure: None.

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Vivienne Roodt 10 months ago Member's comment

It's great to have this info, as the job market affects trading the CAD, quite significantly. It helps one with analysing one's trades and understanding how it affects forex trading

Kurt Benson 10 months ago Member's comment

i agree, Vivienne.

Arthur Donner 10 months ago Author's comment

thanks for your comment. where are you located?

Vivienne Roodt 10 months ago Member's comment

Hi Arthur, I live in Milnerton, Cape Town, South Africa.