Due to an error in the processing of
July's Labour Force Survey, employment growth in Canada was revised to a net
gain of 41,700 jobs instead of the paltry 200 that was originally
reported. While an increase of 60,000 part-time jobs was
unchanged, the losses in full-time job growth were revised down from
60,000 in the original report to 18,000. The unemployment rate remained at 7
per cent .
Despite a 4,100 person increase in the labour force, the BC unemployment rate fell to 5.9 per cent from 6.2 per cent in June. The decline was the result of an increase of 4,800 full-time and 16,600 part-time jobs.
In a related release, manufacturing sales in Canada increased 0.6 per cent in June to $52 billion. It was the fifth gain in the last six months. While manufacturing sales edged down 0.6 per cent to $3.56 billion in BC from May, sales were up 10.8 from the previous year.
Today's releases point a strengthening economy that will continue to underpin relatively robust housing demand.
Despite a 4,100 person increase in the labour force, the BC unemployment rate fell to 5.9 per cent from 6.2 per cent in June. The decline was the result of an increase of 4,800 full-time and 16,600 part-time jobs.
In a related release, manufacturing sales in Canada increased 0.6 per cent in June to $52 billion. It was the fifth gain in the last six months. While manufacturing sales edged down 0.6 per cent to $3.56 billion in BC from May, sales were up 10.8 from the previous year.
Today's releases point a strengthening economy that will continue to underpin relatively robust housing demand.
Copyright BCREA – reprinted with permission
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