Unemployment rate falls to lowest point in nine years - Macleans.ca

Unemployment rate falls to lowest point in nine years

Canada’s economy adds 10,900 new jobs in July, unemployment falls to 6.3 per cent


OTTAWA – The economy added jobs in July, the eighth consecutive month of growth, as the unemployment rate fell to its lowest point in nearly nine years.

Statistics Canada says the pace of job growth slowed, however, with 10,900 net new positions, down from an increase of 45,300 in June.

The number of full-time jobs grew by 35,100, offset by the loss of 24,300 part-time jobs.

The unemployment rate declined to its lowest point since October 2008 at 6.3 per cent compared with 6.5 per cent in June as the number of people looking for work dropped.

The labour force numbers came as Statistics Canada also reported that the country’s trade deficit rose to $3.6 billion in June from a shortfall of $1.4 billion the previous month.

Exports fell 4.3 per cent to $46.5 billion, while imports climbed 0.3 per cent to $50.1 billion.

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