Canada jobless rate falls to 6.5pc

AFP, MONTREAL: Canada’s unemployment rate fell 0.1 per centage points in June to 6.5 per cent, official data showed Friday, with 45,000 new jobs added compared to the previous month, mainly in part-time work and among women.

The number of jobs added was almost four times greater than economists’ predictions, which foresaw a modest rise of 12,000.

“In the second quarter of 2017, overall employment grew by 103,000 (+0.6 per cent), the fourth consecutive quarter of strong employment growth and the largest quarterly increase since 2010,” Statistics Canada said.

The latest gains come after 55,000 new jobs were added in May, a sign of the economy’s growing strength over the past year.

Rising employment could soon see the central bank tighten monetary policy, with the first rate hike in nearly seven years probable next week, according to analysts with CIBC bank.

Employment gains in June were led by women aged 55 and older, with the group seeing an increase of 31,000.

Canada jobless rate falls to 6.5pc

AFP, MONTREAL: Canadas unemployment rate fell 0.1 per centage points in June to 6.5 per cent, official data showed Friday, with 45,000 new jobs added compared to the previous month, mainly in part-time work and among women. The number of jobs added was almost four times greater than economists predictions, which foresaw a modest rise of 12,000. In the second quarter of 2017, overall employment grew by 103,000 (+0.6 per cent), the fourth consecutive quarter of strong employment growth and the largest quarterly increase since 2010, Statistics Canada said. The latest gains come after 55,000 new jobs were added in May, a sign of the economys growing strength over the past year. Rising employment could soon see the central bank tighten monetary policy, with the first rate hike in nearly seven years probable next week, according to analysts with CIBC bank. Employment gains in June were led by women aged 55 and older, with the group seeing an increase of 31,000.