Published: Tue, July 10, 2018
Markets | By Otis Pena

Canada adds jobs, sees more job hunters

Canada adds jobs, sees more job hunters

Toronto saw its unemployment rate rise by 0.1 of a percentage point to 6.4 per cent, while Vancouver's unemployment rate was 4.6 per cent during the month. The local jobless rate in June 2017 was 7.0 per cent.

The Canadian economy added 31,800 jobs for the month, but with 75,000 people entering the work force the jobless rate rose 0.2 per cent from May, Statistics Canada said.

The jobs gain was driven by an increase of 22,700 in part-time positions, while full-time work rose by 9,100.

The MPC, which in a July 5 report offers an assessment of the monetary stance consistent with the BoC's 2% inflation target, says, "All but one of the nine MPC members who attended [a recent] meeting called for an overnight rate target higher than the current one at the upcoming [BoC] meeting".

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This is published unedited from the PTI feed. The public sector has increased its membership by 11 800 jobs, while the private sector lost 2,000 employees.

Expectations have strengthened that governor Stephen Poloz will raise the benchmark for the first time since January.

The latest report on employment was released a week before the Bank of Canada will decide on interest rate. At the same time, employment decreased in accommodation and food services, and in agriculture. The labour force in Northeast B.C. also increased last month, from 41,800 to 42,700. "Over the same period, total hours worked grew by 1.4 per per cent", it said.

The report showed that Canada's trade surplus with the US narrowed to $3.3 billion in May, from $3.7 billion April, as more imports headed north across the border and south-bound exports decreased.

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