Canada unexpectedly loses 9,400 jobs; unemployment rate down to 7.1 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Ottawa, BC, Canada (4E) – The Canadian economy surprisingly shed 9,400 jobs in June as the unemployment rate climbed one-tenth of a point to 7.1 percent, its highest level since last December, according to data from Statistics Canada released Friday.

Ontario contributed the most to the job loss, shedding nearly 34,000 jobs last month, all under the 15 to 24 year old age group.

Economists had forecast another huge month of job additions after a 25,800 gain in May, but last month continued what has become a year-long weakness in hiring.

The economy has created just 72,000 new jobs over the last 12 months, evenly split between full-time and part-time workers.

Friday’s report showed that full-time employment climbed by 33,500, partly offsetting the loss of 43,000 part-time positions.

Statistics Canada says the major loss was among youth workers, who reversed almost all the job gains of May after dropping around 44,000, mostly in Ontario.

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