Published: Sat, July 06, 2019
Markets | By Otis Pena

Prince George unemployment rate sees drop in June

Prince George unemployment rate sees drop in June

About 85,700 people were working in Greater Sudbury last month, compared to 86,900 in May, StatsCan said in it's monthly labour force survey.

Governor Stephen Poloz is widely expected to hold the trend-setting rate steady next week - and many predict the bank to remain on hold for the rest of the year.

For permanent employees, wage growth rose sharply to 3.6 percent year-on-year from 2.6 percent seen in the prior two months.

Wage features accelerated to the fastest in extra than a 365 days.The fact the labor market hasn't pulled assist ought to bolster self assurance in the sustainability of the present economic rebound and ease stress on the Financial institution of Canada to lower hobby rates, even if numerous central banks ease coverage.

The unemployment rate nationally sits at 5.5 per cent, which is a slight raise of 0.1 points from the May numbers.

Moreover, the group's jobless rate was 8 per cent in June, the lowest unemployment rate in that month since data became available in 1977.

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Their employment rate rose by 4 percentage points to 69.8 per cent, the highest rate for the month of June since 2004.

"The best news came from the wage front", Stewart said in a statement.

Over the a year ago, the number of Brantford residents participating in the labour market has grown consistently, even as local employers report greater difficulty finding workers.

Overall, the report said the economy shed 2,200 net positions after adding about 24,000 full-time jobs and the losing about 26,000 part-time jobs.

Compared with a year earlier, employment was up 421,100 or 2.3 per cent, the report said. The Canadian economy created a record 106,500 jobs in April and added another 27,700 in May.Friday's release was the last in major economic statistics before the Bank of Canada's next interest rate announcement on Wednesday. On the contrary, the goods sector lost 32.8k jobs, with about half of that loss occurring in the manufacturing sector.

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