Strength in central Canada pushes unemployment rate down to 7.9%
Canada’s economy added 93,000 jobs in June, including 52,000 new private-sector jobs, reports Statistics Canada. Nearly all—90,000—of the jobs added were in Ontario and Quebec. Much of the gain came from “business, building and support services,” which has seen a 14 per cent increase so far this year. TD economist Derek Burleton told CBC news he was “flabbergasted,” by the news and called it “another blockbuster gain.” Canada now sits just 14,000 jobs away from its pre-recession peak. The unemployment rate dropped more than expected to 7.9 per cent. The U.S., in comparison, lost 125,000 jobs in June and sits at 9.5 per cent unemployment.