Canadian Employment Flat in July

Statistics Canada (StatCan) reported on Friday (8-4-23) that employment in July was virtually unchanged, posting a loss of 6,000 jobs, or 0.0%. From January to July, monthly employment growth has averaged 22,000.

Job losses occurred in the construction sector, down 45,000, or 2.8%; public administration, down 17,000, or 1.4%; information, culture, and recreation, down 16,000, or 1.8%; and transportation and warehousing, down 14,000, or 1.3%. Those declines were offset by job gains in health care and social assistance sector, up 25,000, or 0.9%; educational services, up 19,000, or 1.3%; finance, insurance, real estate, rental, and leasing, up 15,000, or 1.1%; and agriculture, up 12,000, or 4.6%.

The unemployment rate in Canada rose 0.1% to 5.5% in July, following increases in unemployment in May and June of 0.2% each month. StatCan notes that this was the first time the unemployment rate had increased for three consecutive months since the early months of COVID-19 pandemic.

Year-over-year, average hourly wages increased 5.0%, or $1.59 (CAD), to $33.24 in July, following increases of 4.2% in June and 5.1% in May (not seasonally adjusted).