Canada employment rose 953k, or 5.8% in June, well above expectation of 675k. Full-time jobs rose 488k, or 3.5% while part-time jobs rose 465k, or 17.9%. Still, employment in June was 1.8m or -9.2% lower than in February.
Unemployment rate dropped to 12.3%, down from May’s 13.7%, but missed expectation of 11.9%. That’s still more than double of February’s 5.6%. Labor force participation rate rose 2.4% to 63.8%, which is a positive sign even though it’s below February’s 65.5%.
