Friday, June 6, 2014

BCREA ECONOMICS NOW - June 6, 2014

Canadian and US Employment
Canadian employment rose by 26,000 in May, though the gains were largely the result of hiring for part-time work. The national unemployment rose 0.1 per cent to 7.0 per cent. Since the beginning of 2014, the Canadian economy has added an average of 12,440 jobs per month. 

The BC economy shed jobs for the second consecutive month as employment fell by 1,900 in May. The provincial unemployment rate. ticked 0.3 points higher to 6.1 per cent. The level of employment in the province is up 0.4 per cent compared to 12 months earlier and has grown at an average pace of 0.5 per cent in 2014. 

The US economy added 217,000 jobs in May, finally pushing total employment back above its pre-financial crisis peak. The US unemployment rate remained at 6.3 per cent.  Over the past five months, US job growth has averaged 214,000 jobs per month.