Canadas June Jobs Gains Exceed Economists Predictions

OTTAWA—Statistics Canada says the economy added nearly one million jobs in June as businesses forced closed by the pandemic began to reopen.

The agency says 953,000 jobs were added last month, including 488,000 full-time and 465,000 part-time positions.

The unemployment rate fell to 12.3 percent in June after hitting a record-high of 13.7 percent in May.

As in May, even though more people found jobs, more people were also looking for work.

The average economist estimate for June had been for an addition of 700,000 jobs and the unemployment rate to fall to 12.0 percent, according to financial data firm Refinitiv.

Statistics Canada says the unemployment rate would have been 16.3 percent had it included in unemployment counts those who wanted to work, but did not look for a job.

The jobs report this morning says there are still some 3.1 million people affected by the shutdowns of March and April when public health restrictions forced businesses to close and workers to stay at home to slow the spread of COVID-19.

About 2.5 million didnt have jobs in June, either due to temporary or permanent layoffs, while the remainder are working less than half their usual hours.

As restrictions eased, the number of people participating in the labour force grew by about 786,000 after Mays 491,000 gain, bringing those considered in the labour force to within 443,000 of its pre-pandemic level.

The gains, though, have not been shared equally between men and women, with the former gaining back jobs at a faster pace than the latter.

The unemployment rate for women was 12.7 percent in June compared to 12.1 percent for men. Similarly, the participation rate for core-aged men was less than one percentage point below the February level, while Read More – Source