Canada’s economy had an impressive job surge in August and added 81,100 new positions.
Canada Jobs - Impressive Increase
Many of these jobs were in the part time, and services sector for young people. Statistics Canada stated that the increase in unemployment rate was 5.7 percent. Yearly average growth in the hour wage for employees was at 3.1 percent last month, but in July it was 4.5 percent.
The recent Labor Force Survey states that the country added 73,300 fresh positions in the services industry and 94,300 jobs were added in the private sector. The new jobs as per the report were 57,200 in the part time and 42,000 of were held by young workers in the age group of 15 -24 years. Economists expected the addition of 15,000 jobs and the unemployment rate was expected to be 5.7 percent, as per the firm dealing with financial market data
The Trend Is Positive
The Job figures are volatile from one month to another and as per the economists there is a need for scientific and rational examination of the trend. The fact is that there is a gradual progress as per an expert. The job numbers improved over the past year, and the rate of full-time growth in job scenario is solid. This will also change when the Bank of Canada will balance its considerations regarding the domestic and foreign conditions in October. The unemployment rate is unchanged and serves as a positive indicator owing to the rise in labor force. Ontario, Quebec, New Brunswick, Manitoba, and Saskatchewan recorded impressive and big gains.
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