Canada’s overall labour market didn’t change very much in July as the economy created 6,600 additional jobs, Statistics Canada reported today.
That was roughly in line with the 5,000 new jobs that economists had been forecasting.
The unemployment rate remained at 6.8 per cent for the sixth straight month.
Manufacturing remains weak as another 4,600 factory jobs disappeared in July. Job gains were concentrated in the services-producing sector.
Several economists called it a mixed report but said the numbers still don’t cry “recession.”
“Make no mistake, this is not a strong report … but it’s also not notably weak,” said BMO chief economist Douglas Porter. “While many have been quick to label this year’s economic performance a recession, the job numbers just haven’t backed that up.”
Chosen excerpts by Job Market Monitor. Read the whole story at Canada added ‘modest’ 6,600 jobs in July – Business – CBC News.
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