Rosy Canadian jobs report gets no help from resource sector

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Statistics Canada's latest labour force survey says the July jobless rate was 5.8 per cent, down from six per cent the previous month.

Although Canada's unemployment rate dropped to a four-decade low last month, Calgary's jobless rate remains stubbornly high at 7.9 per cent, according to the latest numbers from Statistics Canada.

Data collected for the Labour Force Participation Survey showed Windsor's participation rate rose a tenth of a percentage point in July to 60.5 per cent.

The youth unemployment rate-representing workers aged 15 to 24 years old-fell to 11.1%, down from 11.7% in June.

Across Canada, 54,100 jobs were added to the economy in July. Camrose-Drumheller is sitting at an unemployment rate of 4.5 per cent up from June's 4.4 per cent. But, it could be an indicator of whether the Bank of Canada will increase interest rates next month.

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Less desirable part-time jobs made up for the bulk of the gain with 82,000 positions created, offsetting a loss of 28,000 full-time jobs.

Average hourly wage growth, which is scrutinized by the Bank of Canada, continued its gradual cool-off last month with a year-over-year reading of 3.2 per cent.

On a year-over-year basis, employment rose by 245,900 jobs, or 1.3 percent.

"In contrast, employment fell in most goods-producing industries, specifically manufacturing, construction and natural resources".

While the monthly employment gains were the strongest this year, total actual hours worked was up just 1.3 per cent in July, the lowest since November 2017. The breakdown was less rosy, with all the gains in part-time employment and concentrated in public sector service jobs. The report said the main cause of the drop was due to the fact fewer young people were looking for work.

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