Canada lost 42,000 jobs in August, Statistics Canada said Friday, contrary to economists’ expectations, while the unemployment rate was unchanged at 6.4 per cent.
Statistics Canada said the number of public sector workers fell by 20,000, declining for a third consecutive month. Jobs were little-changed in the private sector.
By region, Quebec was hardest hit, losing 19,000 jobs. Ontario followed with a loss of 18,000.
Statcan’s reporting is suspect as told only weeks ago…
Canada’s Job Market Is Booming If You Ignore Population Revisions
Canada’s economy is booming, as long as you ignore the actual data and upcoming revisions. Statistics Canada’s (StatCan) latest Labour Force Survey (LFS) shows seasonally adjusted employment climbed by 75,000 jobs in July. The unseasoned reality was a little less savoury, showing a 6-digit decline in the same month, along with rising unemployment. The picture may be even worse than presented, with a Big Six bank projecting substantial upward revisions to population estimates in just a few weeks.
