Friday, August 9, 2013

UNEMPLOYMENT RATE UP

Canada's unemployment numbers increased last month.

Statistics Canada's latest report shows that there were 56,000 fewer jobs than expected. Economists were predicting a growth of 17,000 jobs but in fact there was 39,000 less jobs bringing the unemployment rate up to 7.2%.

The private sector created over $30,000 jobs but government cuts to public administration and health care pushed over 70,000 public servants onto the unemployment lines. The severance from the Spring budgets is starting to dissipate and folks are not finding new jobs. So much for the Action Plan!

And yes, Newfoundland and Labrador reported a dip in employment while only Alberta, New Brunswick and Saskatchewan posted gains.  NL's jobless numbers rose to 11.4% from 10.% in June.

The news comes on the heels of two consecutive months of growth in the country's job numbers.




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