Canada Loses 39,400 Jobs in July as Government Hires Wane

Posted by Bloomberg

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Canadian employment unexpectedly fell in July on fewer jobs in government and for youths, and wage growth declined to its slowest since 2011.

Employment fell by 39,400 last month, while the jobless rate rose to 7.2 percent from 7.1 percent, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg Newsprojected a 10,000 job gain and an unchanged jobless rate, according to the median forecasts in surveys with 23 responses.

Canada’s job gains have slowed so far this year, with the average monthly gain of 6,000. That’s down from the 27,820 average recorded in the second half of last year. The job report adds to other evidence of an inconsistent expansion, including a record string of 18 monthly trade deficits, an economy that grew by a less than expected 0.2 percent in May and inflation holding below the central bank’s 2 percent target for more than a year.

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