Canadian economy added 419,000 jobs in July, marking third month of gains

Daniel Fowler
August 7, 2020

Canada's labour market has seen an increase of 419,000 jobs in the month of July as the country continues its reopening process, according to Statistics Canada.

Part-time gains have outpaced full-time work in each of the past three months, Statistics Canada noted, with part-time work within five per cent of its pre-COVID-19 levels compared with full-time work, which is still down 7.5 per cent from February before the pandemic struck.

The jobless rate in June was 12.6 per cent, a 20-year-high for the London area, which also takes in Strathroy, St. Thomas and portions of Elgin and Middlesex counties.

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Most of the employment gains were part-time work, which increased 11.3 per cent (345,000 jobs) as opposed to a 0.5 per cent increase (73,000 jobs) in full-time work. Additional easing was introduced in most regions of the province on July 17, at the end of the LFS reference week. Nationwide, the rate was 10.9 per cent, down from 12.3.

In July, employment rose faster among women - 3.4 per cent or 275,000 - than men - who were at 1.5 per cent or 144,000. That number is now 2.3 million, 58 per cent lower than in April. "Monthly employment data, historically among the leading market movers in foreign exchange, has been relatively toothless of late", said Don Curren, market strategist and content editor, at Cambridge Global Payments. Hours worked rose 5.3 per cent from June.

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