Canada Job Numbers Show 29k Drop in Employment

Investment Market

Emergency Fund Your Money Mutual FundsTHUNDER BAY – Statistics Canada states that since August 2013 Canada has experienced little job growth. Employment decreased by 29,000 in April, and the unemployment rate was unchanged at 6.9% as the number of people participating in the labour market edged down.

In April little changed in Ontario and the unemployment rate was 7.4%. On a year-over-year basis, employment in the province was up 74,000 (+1.1%), with most of the gains occurring at the beginning of the period.

The jobs figures, released this morning are a stark contrast to a projected gain of 14,000 jobs.

Stats Canada says, “In April, employment was down in Quebec, New Brunswick, Newfoundland and Labrador and in Prince Edward Island, while it increased in Saskatchewan.

“Employment declined among women aged 25 to 54 and youths aged 15 to 24, while it increased among women 55 and over.

“In April, there were fewer people working in accommodation and food services, as well as finance, insurance, real estate and leasing. At the same time, employment increased in business, building and other support services.

“The number of hours worked fell 1.1% on a year-over-year basis, driven by a decline in April 2014 as Good Friday fell in the survey reference week and a number of workers took extra vacation time that week”.