Canada’s jobless rate rises to 7.2 per cent in July
Posted August 9, 2013 10:10 am.
This article is more than 5 years old.
OTTAWA – Statistics Canada said the economy shed 39,400 jobs in July, enough to push the unemployment rate up one-tenth of a point to 7.2 per cent.
It was the second consecutive monthly loss of jobs and will come as a surprise to markets, which had expected something closer to the economists consensus of a modest 10,000 employment gain.
The agency said a whopping cut of 74,000 in the public sector, mostly in health care, social assistance and administration, was the main reason for the poor July labour market performance.
Private employers actually added 31,400 jobs during the month.
Young Canadians also bore the biggest burden, as workers in the 15-to-24 age group saw their numbers diminish by 45,600.
Regionally, six provinces sustained a net drop in employment, with the biggest decline in Quebec, with 30,400 jobs lost. Alberta had the largest gain with an increase of 16,600 jobs.
