Canadian and US Employment - July 6, 2012
US Employment - July 6, 2012
Canadian employment held steady
for the second consecutive month in June while the National unemployment rate
ticked down by 0.1 points to 7.2 per cent. Year-over-year, Canadian
employment was 1 per cent higher than June 2011. The BC economy added
3,200 jobs last month, including 2,400 full-time positions. Higher payrolls
combined with a large drop in the labour force to push the BC unemployment rate
down 0.8 points to 6.6 per cent. However, the provincial unemployment rate has
been unusually volatile in recent months and we expect that June's big decline
is mostly temporary. June employment numbers were 2.3 per cent higher
compared with 2011.
South of the border disappointing jobs creation continued with just 80,000 new
jobs added in June, falling well short of already diminished expectations of
100,000 new jobs. The US unemployment rate held steady at 8.2 per cent.