The Canadian economy is down 31,200 jobs in July as the number of workers with full-time work fell dramatically and fewer younger Canadians were employed, according to a Statistics Canada report yesterday.
The figures were a rude awakening when analysts had forecast Canada’s economy creating about 10,000 jobs last month.
The number of full-time workers fell by 71,400 — the biggest one-month decline since October 2011, but the loss in full-time jobs was partially offset by an increase of 40,200 part-time jobs, Statistics Canada said.
Younger Canadians had a tough time finding work, as there were 28,000 fewer jobs for the age 15 to 24 group, and this during the crucial summer season when many students earn money for the next year of their education.
Public-sector employment fell by 42,000 in July, while private-sector employment rose slightly. We’ll look into the figures more in depth next week.
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