Canada creates more jobs than expected, rate hike seen likely

Canada creates more jobs than expected, rate hike seen likely

The employed workforce rose from 85,000 in May to 85,400 in June, but there were more people looking for work, with the labour force participation rate rising from 66 per cent to 66.2 per cent. The bank's overnight rate target is 1.25 per cent. The jobless rate in Calgary remained steady at 7.7 per cent.

Jobs in agriculture dropped 10.8 per cent to 21,400, while the province saw small declines in manufacturing (0.4%) and construction (0.5%).

The federal agency reported on Friday that the rate was up from 6.2 per cent the previous month.

Year over year, employment increased by 215,000, or 1.2 per cent, with all the growth in full-time work, according to Stats Canada.

Despite potential economic hurdles and global tensions, the bank says, "We continue to look for a policy interest rate hike on July 11th".

In all, 22,700 part-time jobs and 9,100 full-time positions were created in June. The number, however, did come down from its nine-year high in May of 3.9 per cent.

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"It remains to be seen if a rebound in the private sector will occur given growing trade uncertainties".

Services sectors, meanwhile, lost 14,700 jobs mostly because of big decreases in accommodation and food services positions as well as wholesale and trade.

Employment increased in Ontario, Saskatchewan, and Manitoba.

Separately, Statscan said Canada's trade deficit in May grew to $2.77 billion from $1.86 billion in April.

Higher imports in May of aircraft, other transportation equipment and energy products fuelled most of the increase.

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