Unemployment rate in Canada comes down to 6.2%
Ottawa – Employment was little changed in August (+22,000 or +0.1%). The unemployment rate declined by 0.1 percentage points to 6.2%, matching the most recent low of October 2008, the month prior to the 2008-2009 labour-market downturn. An increase in the number of people working part time (+110,000) was mostly offset by a decline in the number of people employed full time (-88,000).
While the increase in part-time employment was spread across the age groups, most of the decrease in full-time employment occurred for youth aged 15 to 24. The overall employment decline for youth was accompanied by a notable decrease in their labour force participation. In the 12 months to August, employment rose by 374,000 (+2.1%), with gains in both full-time (+213,000 or +1.5%) and part-time work (+161,000 or +4.6%). Over this period, the number of hours worked increased by 2.2%.
From July to August, there were more employed men and women aged 55 and older. In contrast, there was a decline in the number of employed youths aged 15 to 24. Employment held steady for the core-aged demographic group of 25- to- 54 year-olds. Provincially, Ontario was the lone province with a notable employment gain in August. Employment declined in Nova Scotia and was little changed in the other provinces.
In August, more people were working in finance, insurance, real estate, rental and leasing as well as in transportation and warehousing. At the same time, employment fell in manufacturing, in the “other services” industry and in natural resources. There were more self-employed workers in August, while the number of employees was little changed in both the private and public sectors.
In Ontario, employment rose by 31,000 in August, the third increase in four months. The unemployment rate fell 0.4 percentage points to 5.7%, the lowest level since January 2001. Compared with August 2016, employment in Ontario was up by 154,000 (+2.2%) and the unemployment rate was down by a full percentage point. Overall employment in Quebec was little changed for the second consecutive month. In the 12 months to August, employment in the province rose by 93,000 (+2.3%), with nearly two-thirds of this increase in full-time employment. Over the same 12 month period, the unemployment rate fell 0.9 percentage points to 6.1%.