Canada Created Nearly One Million Jobs In June

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The Canadian economy created nearly a million jobs last month, as businesses reopened after the COVID-19 closures.Statistics Canada announced Friday that the economy had created 953,000 jobs during the month, on top of the 290,000 it added the previous month. But despite this two-month period, there are still 1.8 million fewer jobs in Canada today than in February.

The unemployment rate fell to 12.3%, down from the record high of 13.7 in May.

The job gains were better than the 700,000 jobs predicted by economists surveyed by Bloomberg.

Over half of the new jobs came from Ontario and Quebec, adding 378,000 and 248,000 jobs respectively. But each province added at least a small number of jobs.

Jobs were distributed fairly evenly between full-time and part-time, with 488,000 for the former and 465,000 for the latter.

“Not out of the woods yet”

At the lowest point in April, Statistics Canada reports that 5.5 million Canadian jobs have been negatively affected by the pandemic, with three million jobs completely lost and an additional 2.5 million that have been reduced in terms of ‘hours or wages in one way or another.

By June, that first figure had dropped by about two million, but the data agency says there are still 3.1 million workers who have either lost their jobs or suffered the negative effects of COVID-19.

“Despite the number of jobs recovered since April, we are not out of the woods yet,” said economist Brendon Bernard on the job market Indeed.com. The addition of a million jobs in June, in addition to the gain in May, roughly means that Canada has “recovered about 40% of the initial job losses in two months” [but] reducing the remaining 60% and repairing the fallout in the longer term could be more difficult. ”

Leah North of the Canadian Chamber of Commerce also displayed cautious optimism, although she noted that the accommodation and food services industry, which has been hard hit – two-thirds of the jobs it had in February – faced an upward climb to a full recovery.

“We still have a long way to go before finding a fully engaged workforce,” she said. “Any recovery will depend on how effectively we get Canadians back to work.”

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