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July Payrolls +5.1%, -11.3% Since February

CANADA DATA
  • The payroll decline since Feb before Covid lockdowns began compares with -7.0% for the headline Labour Force survey over the time period.
  • Payrolls are -1.9m since Feb, LFS employment -1.3m
  • About 400k of that gap is difference in reporting from payrolls reports excluding people laid off during Covid but still have "an attachment to a job"
  • 3/4 of decline in payrolls during Covid are lower-paid hourly workers
  • July YOY earnings +8.7% reflecting reduced jobs among lower-paid workers
  • Hours worked +4.9%, reaching 90.7% of Feb level
  • Arts, entertainment and recreation, accommodation and food services furthest from recovery
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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