July Job Numbers Fall
Statistics Canada’s monthly job numbers are out, and it doesn’t look great. Â After big jumps in March and April, there was little change in May and June. Â In July, total employment fell by 30,000, mostly due to a fall in the numbers of women part-time workers over 55. Â The unemployment rate rose to 7.3%.
Employment losses were spread among manufacturing (-18,000), wholesale and retail trade (-30,000), professional, scientific, and technical services (-21,000), and public administration (-17,000).
Employment among 15-24 year olds was down 52,000 over July 2011, but the unemployment rate was still lower this July (14.3%) because youth have dropped out of the labour market. Â 47% of youth in this age group work part-time.
The employment picture was particularly grim for young students aged 15-19. Â The employment rate for 15-16 year olds was the lowest on record at 29%, and their unemployment rate was a whopping 31.2%. Â For students aged 17-19, there has been no improvement since the beginning (or end) of the recession. Â Their unemployment rate of 17.7% is disheartening, to say the least.