Canada adds 54100 jobs in July, unemployment rate falls to 5.8%

Canada adds 54100 jobs in July, unemployment rate falls to 5.8%

This matches Shenfeld's call in late July, when data showed the economy grew 0.5% in May.

The increase comes as the employment rate declined from 63.5 per cent in June to 63.1 per cent in July, as 11,800 fewer people were employed in the region, according the federal statistics agency's monthly Labour Force Survey.

While the nation added 54,000 jobs last month, those gains were led by part-time jobs (+82,000).

Canada unexpectedly added 54,100 jobs in July and the unemployment rate dipped to equal a record low 5.8 percent, but analysts said the data were weaker than they appeared and played down talk of a rate hike next month.

While slightly higher than the provincial average, Winnipeg saw its unemployment rate drop, from 6.8 to 6.7 per cent in the month of July.

At the same time, employment in Alberta held steady as a decrease in full-time work was largely offset by an increase in the number of people working part time.

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Porter, however, maintained the national labour market remains robust and wrote there is "easily enough here" to convince the Bank of Canada to keep on track in gradually tightening its key interest rate. The bulk of the job creation was in the public sector.

Compared to a year ago in July, unemployment has decreased by 2.6 per cent from 7.1 per cent for the area.

Overall, the goods-producing sector lost 36,500 jobs in July, with a notable loss of 18,400 positions in manufacturing and a drop of 12,300 in construction.

Compared with a year earlier, overall employment was up 1.3 per cent following the addition of 245,900 jobs for an increase driven by 210,500 new full-time positions.

The national average saw a 0.2 per cent change from last month's figures as well - but in the opposite direction. Those gains were mostly due to growth in full-time work.

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