June Canadian unemployment rate edges up slightly

The unemployment rate edged up 0.2 percentage points to 8.6% in June, as more people looked for work; full-time employment continued its downward trend.

June saw little change in employment and total net losses during the last three months were 13,000, much smaller than the 273,000 decline in the first three months of the year. The downward trend in full time employment offset any gains in part time. Since employment peaked in October 2008, full-time losses (-454,000) have been only partially offset by part-time gains (+84,000), leaving total employment down by 370,000. Self-employment rose by 37,000 in June, while the number of employees in the private sector decreased by 39,000. Youth aged 15 to 24 were hard hit in June, with losses of 33,000. Their unemployment rate went up a full percentage point to 15.9%, the highest rate in 11 years. Overall, the employment losses for youth in June were offset by gains among people aged 55 and over. Employment was virtually unchanged in June in all provinces except Newfoundland and Labrador, where it went up. There were gains in information, culture and recreation in June, as well as in finance, insurance, real estate and leasing. Industries with notable declines were manufacturing and business, building and other support services.