Although the headline number is better than May (where the number of jobs created was 22k) it is somewhat disappointing first June is the month in which youth (temporary) labor spikes up in, as the students leave school and enter the job market to provide for beer money during the next school year. Hence although 28,000 jobs were created the unemployment rate didn't budge at 7.4% -- it is a high participation rate that accounts for all the increase in the labor force. Moreover, the bulk of the job creation was in part time work, as opposed to the may data that was mostly an increase in full time jobs.
On the 12 month rolling numbers 238,000 jobs were created (1.4%) which is actually an expression of strong economy (and removes the seasonal factor element of the equation). Where the numbers get bad, 55k jobs were created in the public sector, and only 22k were created in the private sector. apparently, it is self employed workers which accounted for the reduction -44k. On a YoY analysis the bulk of the job creation has been int he private sector 159k, whereas the public sector accounted for 87k (self employed unchanged). However, in terms of growth rate, the public sector growth rate is higher than the private sector.
Actually, the winning demographic for new jobs were women in the 25-54 age bracket this age group accounting for 28k in new employment whereas other segments remained steady. Although not a significant percentage of the labor force, construction saw little if any job growth in June, the bulk of the new jobs were in transportation and warehousing industry.
Overall the report says little as to Canada's economy, the bulk of new jobs are temporary in nature and the overall unemployment rate remains unchanged. The positive aspect here is the increase in the labor participation rate, when individuals decided to enter the labor force, it is considered a positive sign of a healthy economy.
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