Canadian job numbers expected to show gains in August

Canada added 245,800 jobs in August

Employment in Ontario rose by 142,000 in August (+2.0%), which StatsCan said is almost all in full-time work, while the unemployment rate fell by 0.7 percentage points to 10.6%. StatsCan said employment reached 94.1% of its February level and the unemployment rate fell to 10.7%. It took over two years at that time to achieve an unemployment rate of 8.4 percent, something Americans have now achieved in one month.

The Canadian jobs report showed employment rose by 246K in August, near market consensus. The figures could fluctuate because they are based on small statistical samples.

Nationally, Canada added 245,800 jobs in August, the fourth consecutive monthly increase though the pace of new gains slowed, bringing employment within about a million jobs of pre-pandemic levels, Statistics Canada said on Friday.

"We are seeing some, as expected, cooling down in decent job gains".

The number of employed Canadians working less than half their usual hours because of COVID-19 has dropped to 713,000, from 2.5 million in April. Combined with 1.2 million jobs created in May and June, employment is only 1.1 million short of its pre-pandemic February level.

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Full-time jobs accounted for 13,300 of the total job gains, while part-time work accounted for 2,000 jobs - a sign of healthy recovery owing to the more stable nature of full-time work. The August jobs report confirms that the strong recovery continues.

Full-time employment is now nearly 6% away from pre-pandemic levels compared to the 3.9% shortfall in part-time work.

The labour-force survey was conducted the week of August 9 to 15.

Total employment in Saskatchewan still remains down 26,500 compared to August 2019.

But deep hits to the tourism sector and other industries now see it outperforming only Alberta, Prince Edward Island, and Newfoundland and Labrador.

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