Canadian Economy Sheds 139,000 Full-Time Jobs In July
Posted August 6, 2010 9:20 am.
This article is more than 5 years old.
The Canadian economy shed 139,000 full-time jobs last month, but the big loss was cushioned by the earlier addition of part-time positions.
Statistics Canada released the nation’s latest job figures Friday morning, showing the unemployment rate increased slightly by one-tenth of a point to eight per cent.
After taking the addition of approximately 130,000 part-time jobs into consideration, the latest numbers show 9,300 workers lost their positions last month.
“In July, employment decreased in educational services and in finance, insurance, real estate and leasing,” Stats Can said Friday. “At the same time, there were increases in manufacturing and public administration.”
The education sector lost 65,000 jobs in July, while factory work rose by 29,000 – the largest increase in that area in two years. Significant gains were also made in public administration.
Since the upward trend in the job market began in June 2009, the construction, professional, scientific and technical services, health care and social assistance industries have enjoyed the biggest gains.
The loss of full-time jobs didn’t come as a total surprise. While analysts had predicted 12,500 positions would be added last month, there was speculation we were in for a decline after 227,000 jobs were added to the economy over the spring and summer.
Friday’s job numbers had an effect on the Canadian dollar, which is once again flirting with parity. The loonie was down 0.36 of a cent to 97.91 cents (US).
