Canada's unemployment rate hasn't been this low in almost a decade

Chelsea West
September 10, 2017

RED DEER- Stats Canada numbers show the Red Deer area unemployment rate continues to fall.

"It has sort of been the missing ingredient", said Alexander, who added that wage growth usually starts to rise after job creation increases and the unemployment rate falls.

Part-time jobs increased by 110,400 last month, while the economy shed 88,100 full-time positions.

The jobless rate for the economic region that houses Grande Prairie and Peace River was 6 per cent in August, down from 5.8 per cent the month before and 7.2 per cent a year earlier.

While not a particularly strong result by itself, today's report brings the total number of new jobs created over the past year to a "staggering" 374,000, The Conference Board of Canada said in a statement. In the past year, employers have added 213,000 full-time jobs, compared with 161,000 part-time positions.

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Job growth picked up by 22,200 positions overall, topping expectations for an increase of 19,000. The big downside surprise is all of the strength is in part time work, a big loss in full time jobs.

But while the exterior of Friday's jobs report looked good, the monthly data also featured several blemishes. Private payrolls had 2,100 fewer workers last month, though there were 196,000 more private-sector employees than a year earlier.

Over the year, full-time employment increased by 213,000 and 1.5% while part-time jobs increased 4.6% over the year.

"While very solid on the surface, the details of this report are generally sluggish, leaving a mixed bag", BMO chief economist Doug Porter wrote in a research brief for clients.

Ontario posted the only notable gain among provinces, while employment declined in Nova Scotia. The number of full-time jobs dropped by 100 positions.

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