June job losses not as bad as originally predicted
Despite dire predictions of job losses topping 35,000 in June, the economy only shed 7,400 jobs last month, according to Statistics Canada.
These job losses pushed the unemployment rate up slightly to 8.6 per cent from 8.4 per cent in May.
Full-time employment continued its downward trend in June, offsetting gains in part-time employment.
Employment was virtually unchanged in June in all provinces except Newfoundland and Labrador, where it went up by 2,500, however, the unemployment rate edged up to 15.6 per cent as more people entered the labour force.
There were gains in information, culture and recreation (26,000 net new jobs), as well as in finance, insurance, real estate and leasing (21,000 net new jobs).
Industries with notable declines were manufacturing (26,000 net jobs lost) and business, building and other support services (14,000 net jobs lost).
