February 21, 2018

New Brunswick's jobless rate rises to 7.8%

10 September 2017, 02:30 | Frank Carlson

Labour market sees ninth-straight monthly gain as jobless rate dips to 6.2%

Charles Krupa  The Associated Press Files The local economy posted a net gain of only 300 new jobs in July but 300 workers also dropped out of the provincial labour force during the month. That left 683,200 people in the workforce — 649,400 of them emp

An unemployment rate of 6.2 per cent approaches what economists refer to as "full employment", defined as the lowest rate before a scarcity of job seekers starts to inflate wages and hit the economy. In the past year, employers have added 213,000 full-time jobs, compared with 161,000 part-time positions.

Over the year, full-time employment increased by 213,000 and 1.5% while part-time jobs increased 4.6% over the year. August recorded 9,800 people employed in the field, the same number first recorded in October 2016.

Full-time employment declined sharply by 88,100 for the month following a 35,100 increase the previous month while there was a strong gain in part-time employment of over 110,000 following a decline of 24,300 the previous month.

"We're just coming off a phenomenal job growth in this country". The youth category also showed a notable decrease last month in participation as fewer young people looked for work. "We've had 374,000 jobs created over the past year, and [almost] 60 per cent of those jobs have been full-time", he told The Globe and Mail.

Ms. Kish said that the private and public sectors' lag behind self-employment could be because organizations were holding off hiring during the summer.

Hurricane Irma of 'unprecedented intensity' in the Atlantic
ET (2100 GMT) - was bearing down on the Leeward Islands in the northeast Caribbean on a forecast path toward Florida . The intensity of Irma could fluctuate as it moves over the mountainous regions of Puerto Rico and Dominican Republic.

Ontario's economy added 31,000 jobs mostly in finance, insurance, real estate, and rental and leasing.

Compared to a year earlier, average hourly wages expanded at a faster rate than inflation to reach 1.8 per cent. The local rate is the second-lowest in Canada.

The month-to-month data in the labour-force report is based on a sample of about 56,000 households.

The Bank of Canada noted earlier in the week that wage growth had been "more subdued" than historical trends have shown.

"A hallmark of employment this year has been pretty steady gains and the August report this morning is consistent with that".

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