Canadian employment declined by 11,000 jobs in August. Both full-time and part-time employment were down while total hours worked, which is closely associated with economic growth, was unchanged. The national unemployment rate remained at 7 per cent.
The BC economy eked out a modest 1,800 hundred jobs in August, however those gains were all in part-time work. Full-time employment declined by 14,400. In spite of slightly higher employment, the provincial unemployment rate ticked 0.2 points higher to 6.1 per cent as the number of people looking for work expanded by 8,200. Year-to-date, employment in BC is up just 0.5 per cent.
In the United States, payrolls were up 142,000, well off of market expectations and below 2014 trend growth over 215,000 jobs per month. The US unemployment rate fell to 6.1 per cent. “Copyright British Columbia Real Estate Association. Reprinted with permission.”