Unemployment still at 7.3 per cent
OTTAWA (Reuters) — The Canadian economy added 34,300 jobs in August, recouping all the 30,400 positions lost in July and returning to the recent trend of slow net increases in employment, according to Statistics Canada data released on Friday.
It topped all expectations by analysts surveyed by Reuters, who predicted on average a 10,000 gain, with the highest predictions at 25,000 new jobs.
The unemployment rate remained at 7.3 per cent — as forecast — despite the gains, because more Canadians looked for work in August.
All the job gains were part time, mirroring losses in July. August saw an estimated 46,700 new part-time positions and 12,500 fewer full-time jobs; July lost 51,600 part-time jobs and added 21,300 full-time positions.
March and April had shown 140,500 new jobs but then settled down in May and June to a more sustainable pace of more than 7,000 new jobs each month before July's surprise loss.
Analysts had said they had not seen sudden economic bursts or slowdowns associated with the recent fluctuations.