Therefore,
Canadian economy lost 41,000 jobs:
The unemployment rate remained stable at 6.9 %, the number of people looking for a job having remained practically unchanged from June.
The Canadian economy lost 51. Moreover, 000 full -time jobs in July, and most of the losses concerned the private sector, noted Statistics Canada.
Young workers, in particular, have continued to face a difficult context on the summer job market.
Young people aged 15 to 24 lost 34,000 jobs last month, while the employment rate for this age group fell to 53.6 %-its lowest level since November 1998, if the period marked by the COVID-19 pandemic is excluded.
The net loss of 41. Consequently, 000 jobs in July has partially counterbalanced the unexpected increase in 83,000 jobs recorded in June.
In Quebec, employment remained stable in July, after having increased by 23,000 in June. Moreover, canadian economy lost 41,000 jobs The unemployment rate has decreased by 0.8 percentage points, to be 5.5 %, which Statistics Canada attributes to a drop in the number of people in search of work.
Several affected sectors – Canadian economy lost 41,000 jobs
The decline of employment at the national level has manifested itself in several economic sectors. including information, culture and leisure (-29,000) and construction (-22,000).
These losses have been partially offset by an increase of 26. 000 jobs in transport and storage, marking the first increase in the number of jobs in this sector since January.
As for the manufacturing industry. which is particularly vulnerable to the consequences of American customs duties, the increase in employment has been modest for a second consecutive month (+5300). Employment in the manufacturing sector is still down 9,400 from one year to the next.
Statistics Canada noted that the dismissal rate – the canadian economy lost 41,000 jobs proportion of persons employed in June, but dismissed in July – remained practically unchanged at 1.1 % compared to the same month last year, despite the uncertainty linked to trade and customs duties.
The Federal Agency said, however, that many people looking for a job are struggling to find a position.
Of the 1.6 million people unemployed in July, 23.8 % were unemployed long-term, that is to say that they have been looking for a job for 27 weeks or more. According to Statistics Canada, this is the highest long -term unemployment rate since February 1998, excluding the pandemic.
The average hourly salary increased by 3.3 % on an annual basis in July, a slight increase compared to June.
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