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article imageCanada loses over 51,000 jobs in biggest drop in almost a decade

By Karen Graham     Sep 7, 2018 in Business
Ottawa - Canada's economy lost 51,600 jobs last month in a decrease that drove up the unemployment rate and essentially wiped out a big gain in July, Statistics Canada said Friday.
Ontario, Canada's largest province, lost 80,100 jobs in August, all of them part-time, the biggest decline since 2009, reports Bloomberg News.
According to the Statistics Canada Labour Force Survey, nationally, the economy lost 92,000 part-time workers, while there was a 40,400 gain in full-time employment positions.
(Employment - By the thousands)
There were 18 631 000 people employed in Canada in August  a drop of...
(Employment - By the thousands) There were 18,631,000 people employed in Canada in August, a drop of 0.3 percent.
Statistics Canada
The country's jobless rate hit 6.0 percent, up from 5.8 percent in July. The August employment numbers followed an increase of 54,100 positions in July, according to CTV News. Economists had expected an increase of 5,000 jobs in August and an unemployment rate of 5.9 percent.
However, the report states: "On a year-over-year basis, employment grew by 172,000 or 0.9 percent. Full-time employment increased (+326,000 or +2.2 percent), while the number of people working part-time declined (-154,000 or -4.3 percent). Over the same period, total hours worked were up 1.6 percent."
The Financial Post suggests the August report appears to show a sluggish labor market, gearing down "markedly" from last year at this time. So far this year, the economy has lost 14,600 jobs, with any gains offset by the loss of part-time jobs.
More about Statistics canada, Jobless rate, August, parttime, Ontario
 
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