Canada June Jobs Seen Rising 25,000 as Unemployment Edges Down to 6.5%
Updated
Updated · continuumeconomics.com · Jun 22
Canada June Jobs Seen Rising 25,000 as Unemployment Edges Down to 6.5%
2 articles · Updated · continuumeconomics.com · Jun 22
Summary
25,000 jobs are expected to be added in June, with Canada’s unemployment rate forecast to dip to 6.5% from 6.6% when the report is released on July 10.
50,000 part-time gains and a 25,000 drop in full-time work are expected to drive the mix, reversing May’s 154,000 full-time surge and 66,200 decline in part-time jobs.
30,000 private-sector hiring is seen offsetting a 5,000 public-sector pullback, while a 15,000 rise in the labor force would still lag employment growth.
World Cup activity in Toronto and Vancouver is expected to help sustain hiring after May’s rebound, which included gains of 41,800 in Ontario and 25,200 in British Columbia.
Wage growth for permanent employees is forecast to rebound to 3.6% from 3.2%, though analysts still view May’s strong headline job gain as partly corrective after earlier weakness.