Canadian employment was essentially unchanged in July as the economy created just 6,600 new jobs. The national unemployment rate remained unchanged for the sixth consecutive month at 6.8 per cent and total hours worked, which is strongly correlated with economic growth, increased 1.2 per cent compared to July 2014. Employment is up 161,000 or 0.9 per cent compared to 12 months earlier. In BC, while employment was flat compared to June, full-time employment dropped by 15,700 jobs while part-time employment rose by a nearly equal number. The provincial unemployment rate ticked 0.2 points higher to 6 per cent.
In the United States, payroll employment was up a healthy 215,000 jobs while the unemployment rate held steady at 5.3 per cent. Over the past three months, US job growth has averaged a robust 235,000 jobs per month.
Copyright BCREA - reprinted with permission
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