MNI 5 THINGS:Canada Employment +31.8k, Tops Expectations>

--5 Things We Learned From Canadian Labor Force Survey Data

By Yali N'Diaye

     OTTAWA (MNI) - The following are the key points from the June data 

on the Canadian Labor Force Survey released Friday by Statistics Canada: 

     - The economy added 31,800 jobs in June, more than the 18,000 gain 

expected by analysts in a MNI survey. The overall picture was positive, 

although not as much as the headline would suggest: part-time employment 

led gains, private sector employment was down, and wage growth slowed. 

Part-time positions led the June increase (+22,700), which still left 

the first quarter down 118,200. Full-time employment rose 9,100 in June, 

for a quarterly gain of 78,000. Overall, the economy shed 40,300 jobs in 

the first quarter due to weakness in part-time employment, the largest 

such drop since the second quarter 2009. 

     - The unemployment rate rose 0.2 percentage points to 6.0% in June, 

the highest since October 2017. However, the participation rate rose to 

65.5% from 65.3% in May. 

     - On wages, average hourly growth for permanent workers slowed to 

3.5% in June year-over-year from 3.9% in May. It remains to be seen 

whether the recent trend toward an acceleration is just marking a pause, 

especially since hiring intentions are broad based in the Bank of 

Canada's latest Business Outlook Survey. Some firms anticipate to raise 

wages in response to labor shortages. 

     - Goods-producing industries led June's increase, with 46,600 jobs 

created, the most since April 2012. Gains were recorded across the major 

categories, except for agriculture. Manufacturing was up 11,300, 

construction up 27,200, the largest increase since February 2016, and 

natural resources up 12,900, the largest gain since September 2014. 

Services jobs fell 14,700, with wholesale and retail trade and 

accommodation and food particularly weak. 

     - The private sector shed 2,000 jobs in June, while the public 

sector added 11,800. Self employment rose 22,000, while the number of 

employees rose 9,800. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]