Published: Tue, July 10, 2018
Business | By Kate Woods

Local jobless rate rises in June

Local jobless rate rises in June

In Alberta, the unemployment rate increased to 6.5 per cent of the workforce from 6.2 per cent the previous month.

Meanwhile, Canada added a total of 32,000 jobs last month and the unemployment rate grew 0.2 percentage points to 6 per cent.

On the economic front, the Canadian economy generated 31,000 jobs in June, versus expectations of 20,000 jobs. The bank's overnight rate target is 1.25 per cent.

Year over year, employment increased by 215,000, or 1.2 per cent, with all the growth in full-time work, according to Stats Canada.

More news: One Dead After a Helicopter Crashes Into a Virginia Residence

Canadian government bond prices were higher across a flatter yield curve, with the 10-year rising 18 Canadian cents to yield 2.126 percent. But forecasters are less bullish than they were a month ago as escalating trade uncertainty competes with expected Bank of Canada rate hikes.

The unemployment rate in Northeast B.C. last month fell for the first time after four straight months of increases. "Overall employment was little changed in the first six months of 2018, following notable growth in 2017".

Employment increased in Ontario, Saskatchewan, and Manitoba.

By sector, the numbers showed goods-producing industries added 46,600 positions in June thanks to job-creation boosts in construction, natural resources and manufacturing.

More news: Meghan Markle Not Asked To Be Prince Louis' Godmother For Royal Christening

"Not too shabby", TD senior economist Brian DePratto said in a note.

In a separate report Friday, Statistics Canada said the country's merchandise trade deficit with the world widened in May to almost $2.8 billion.

Exports declined mostly because of weaker trade on motor vehicles and parts as well as metal ores and non-metallic minerals.

More news: More Clues About Sacha Baron Cohen's New TV Show

Like this: