Tags: Canada | First | Jobs | Loss | Year

Canada Sees First Jobs Loss of the Year

Friday, 06 Aug 2010 11:00 AM

Canada's economy unexpectedly shed 9,300 jobs in July, the first month it failed to create any this year, suggesting the country's recovery from the recession is starting to cool.

Canada's economy unexpectedly shed 9,300 jobs in July, the first month it failed to create any this year, suggesting the country's recovery from the recession is starting to cool.

Statistics Canada said Friday that a loss of 139,000 in full-time employment was not quite offset by a 129,700 jump in part-time jobs.

Analysts in a Reuters poll had predicted an increase of 15,000 jobs after a strong gain of 93,200 in June. It was the first time the economy dropped jobs since losing 29,300 in December.

The unemployment rate rose unexpectedly to 8.0 percent from 7.9 percent.

The services sector, which generated strong jobs growth in June, shed more than 51,000 jobs. Education and finance lost most jobs.

The goods-producing sector added 42,000 jobs, boosted by 28,500 job gain in the manufacturing sector.

The average hourly wage of permanent employees, watched by the Bank of Canada for inflation pressures, rose 2.6 percent in July from a year earlier.

© 2017 Thomson/Reuters. All rights reserved.

   
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Canada's economy unexpectedly shed 9,300 jobs in July, the first month it failed to create any this year, suggesting the country's recovery from the recession is starting to cool. Canada's economy unexpectedly shed 9,300 jobs in July, the first month it failed to create...
Canada,First,Jobs,Loss,Year
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2010-00-06
Friday, 06 Aug 2010 11:00 AM
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