Publicado: Lun, Octubre 08, 2018
Financiera | Por Marilu Caballero

Canada: Weak job gains in 2018 but labour market remains tight - NBF

Canada: Weak job gains in 2018 but labour market remains tight - NBF

The gain resulted entirely from an 80,200 increase in part-time positions.

The latest monthly report from Statistics Canada indicates the jobs market remains volatile, after August saw a decline of more than 51,000 positions, raising the unemployment rate to 6.0 per cent, after two months of increases.

Stats Canada says September's gains were seen nearly entirely in Ontario and British Columbia, largely in construction, with little change in the other provinces. At the same time, employment fell in information, culture and recreation, and business, building and other support services.

However, nearly all of the September job gains came from an increase in part-time employment and were mostly concentrated in Ontario and British Columbia with little change in other provinces. But he wrote the current reading "looks more in line with other measures of wages" and suggests "inflationary pressures aren't set to take off".

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Employment increased by about 12,000 in the public sector, which has seen a rise of about 20,000 jobs overall since last September. "The Survey of Employment, Payrolls and Hours (SEPH), a survey of establishments is showing a much better picture in 2018 (+202K for the 7 first months of the year vs. 74K for a comparable gauge based on the LFS)".

September job numbers reinforce the likelihood of an October interest rate hike by the Bank of Canada, and keep a firm foundation on further moves in 2019, Porter said. This would contribute to the uptick in the jobless rate, as the number of people working is up from 96,300 this time previous year to 97,900.

Nevertheless, the federal government's workforce in the region was down 4,000 year-over-year. Full-time employment dropped by 16,900 jobs.

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