Canada creates more jobs than expected, rate hike seen likely

THE CANADIAN PRESS  Jonathan Hayward Workers are

THE CANADIAN PRESS Jonathan Hayward Workers are

Windsor's unemployment rate saw a slight dip last month.

In an estimated labour force of 42,700, there were 39,700 employed and 3,000 unemployed, according to the survey released July 6.

"One curiousity [sic] at the regional level is that B.C. continues to boast the lowest unemployment rate in the nation at 5.2 per cent (Quebec is next at 5.4 per cent), yet it has the weakest employment performance over the past year at -0.8 per cent y/y", BMO chief economist Douglas Porter said in a note to investors.

Analysts in a Reuters poll predicted a gain of 24,000 positions and said the jobless rate would remain unchanged.

However, with more people searching for work, the unemployment rate increased to six per cent. But forecasters are less bullish than they were a month ago as escalating trade uncertainty competes with expected Bank of Canada rate hikes.

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The economy created 1,300 part-time positions to make up some of the ground lost in the full-time job market. The public sector has increased its membership by 11 800 jobs, while the private sector lost 2,000 employees.

Ontario added 34,900 jobs for an increase of 0.5 per cent compared with the previous month, while Saskatchewan posted its largest monthly gain in over six years with the creation of 8,300 positions, which represented 1.5 per cent growth. The labour force in Northeast B.C. also increased last month, from 41,800 to 42,700.

The main reason is "the group's view that Canadian economic data in the second quarter have rebounded from a sluggish beginning to 2018", the MPC says, noting that domestic output has risen since April, the labour market is tightening and the housing market is stabilizing.

The report showed that Canada's trade surplus with the US narrowed to $3.3 billion in May, from $3.7 billion April, as more imports headed north across the border and south-bound exports decreased.

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