Unemployment rates hold steady for Lloydminster region

Unemployment rates hold steady for Lloydminster region

Unemployment rates hold steady for Lloydminster region

The total number of hours worked in July expanded 1.3 per cent, a slightly slower pace than the June reading of 1.4 per cent.

Across B.C., the number of people working increased by 11,000 and the unemployment rate was 5 per cent, according to Stats Canada.

Nationwide, employment rose by 54,000 jobs in July, with unemployment rate dropping 0.2 percentage points to 5.8 per cent.

Year-over-year the unemployment rate is up from July 2017 when it sat at 6.6 per cent in a labour pool of 40,800 people.

While the number of jobless seems to have taken a large leap month-to-month, the local data can't be accurately compared, as it doesn't take seasonal factors into consideration.

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Unemployment in the region was recorded at 7 per cent in June.

Part-time employment jumped by 82,000 jobs while 28,000 full-time positions were shed.

"In the wacky world of Canada's monthly employment numbers, July came up with another head scratcher, with some big headlines but some disappointments in the fine print", CIBC chief economist Avery Shenfeld wrote Friday in a research note to clients. Compared to last July, 246,000 more people are working across the country, an increase of 1.3 per cent.

Average hourly wages in July, a figure watched closely by the central bank, rose by 3.0 percent from a year earlier. Employment in the goods-producing sector fell by 36,500 jobs, mostly in manufacturing, while the services sector gained a net 90,500 positions, the majority in education and health care. However, employment did rise by 54,000 jobs mainly in part-time work.

"Ontario's share of paid employment in Canada [is] at roughly 39% in 2018, an increase compared to a year ago". The report said the main cause of the drop was due to the fact fewer young people were looking for work.

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