Job market bounces back in August after big drop, Statistics Canada reports
OTTAWA — The roller-coaster Canadian job market roared higher in August, climbing back from its July plunge, but economists cautioned the longer-term trend for growth remains sluggish.
The economy created 26,200 net new jobs in August compared with a loss of 31,200 in the previous month, Statistics Canada said Friday.
However, even with the increase in the number of jobs, the unemployment rate crept up to 7.0 per cent compared with 6.9 per cent in July, as more people entered the labour force and started looking for work.
Economists had expected a gain of 15,000 jobs and the unemployment rate to hold steady at 6.9 per cent, according to Thomson Reuters.