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Canada Adds More Jobs Than Expected, as Jobless Rate Dips

OTTAWA, Aug 7 (Reuters) - Canada added 418,500 jobs in July, mostly part-time, and the unemployment rate fell to 10.9% as the economy continued to reopen, Statistics Canada said on Friday.

Analysts in a Reuters poll had predicted a gain of 400,000 jobs and for the unemployment rate to fall to 11% from 12.3% in June. Canada had added 952,900 positions in June as authorities lifted restrictions imposed to fight the coronavirus outbreak.

That said, almost 2.2 million Canadian were jobless in July, around twice as many as in February, Statscan said.

Part-time employment rose by 345,300 compared with 73,200 new full-time positions. Losses in part-time work had been high, given the damage suffered by the retail trade and food services, where many jobs are not full-time.

If those who wanted to work but did not look for a job were included as unemployed in July, the adjusted unemployment rate would have been 13.8%.

(Reporting by David Ljunggren and Julie Gordon; editing by John Stonestreet and Steve Orlofsky)

Source: Reuters

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