The country added 230,700 jobs in June, beating analyst expectations of 195,000, as public health restrictions were eased in several regions of the country, Statscan said. The unemployment rate was 7.8%, just short of expectations of 7.7%.
“The headline was good but it was all part time, so that’s a bit of a dent against the quality,” said Derek Holt, vice president of Capital Market Economics at Scotiabank.
Part-time employment rose by 263,900, led by strong gains in youth employment, mostly among young women and other high-contact service workers. Full-time employment fell by 33,200.
Ontario, Canada’s most populous province, loosened some restrictions in early June, allowing some in-person shopping and dining, but other businesses, like gyms, remain shuttered.
The Canadian dollar was trading 0.3% higher at 1.2471 to the greenback, or 80.19 U.S. cents, after the data.
Source: Economy - investing.com
