Thursday, March 5th-4.7°C
25326
24949

Unemployment rises to 7.1%

Canada's official unemployment rate climbed to the highest level it's been in half a year in June, rising one-tenth of a point to 7.1 per cent as the Ontario economy shed 33,900 jobs in the month it was preparing to re-elect the provincial Liberals.

Nationally, the numbers were only slightly better with job losses overall of 9,400, all among young Canadians.

Economists had expected another strong month of job growth following May's 25,800 gain, and were in fact predicting Ontario would have a good month due to activity from the election campaign.

But in fact June merely served to underline what has become a year-long slump in job creation for the country, with the possible exception of Alberta and Saskatchewan.

Over the past 12 months, the economy has added a mere 72,000 new jobs — or 0.4 per cent of the labour force — split evenly between part-time and full-time workers.

The prospects for the immediate future don't look encouraging. Earlier this week, the Bank of Canada's survey of business confidence found that Canadian firms' hiring intentions had eased somewhat from what they were three months ago.

That is in contrast to what is occurring in the United States, where monthly gains of 200,000 and more have become commonplace.

The Canadian Press

COMMENTS WELCOME

Comments on this story are pre-moderated and approval times may vary. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Keep it clean, keep it civil, keep it truthful, stay on topic and be responsible. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then. Comments that appear on the site are not the opinion of Castanet, but only of the comment writer.



Read more Business News

24896


Recent Trending




Today's Market
S&P TSX15082.84-51.01
S&P CDNX698.09-4.21
DJIA18096.90-106.47
Nasdaq4967.142-12.76
S&P 5002098.53-9.25
CDN Dollar0.8055+0.0006
Gold1200.00-0.60
Oil53.52+0.29
Lumber287.30-3.40
Natural Gas2.763-0.006

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.05
Cantex0.035-0.005
Anavex Life Sciences0.18+0.005
Metalex Ventures0.04-0.005
Russel Metals24.95-0.26
Copper Mountain Mining1.24-0.01
Colorado Resources0.13-0.005
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225+0.01

 





FEATURED Property
21948395340 Signet Crescent
3 bedrooms 3 baths
$1,395,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


25107