Jobless rate falls to four-decade low

Like the weather, the job market was red hot last month.

Statistics Canada says the economy cranked out more than 54,000 jobs in July, which blew past analysts’ estimated for a gain of 17,000 jobs.

That pushed the jobless rate to a four-decade low of 5.8 per cent down from 6 per cent in June.

Stats Canada says the loss of 28,000 full-time jobs was offset by a gain of 82,000 part-time positions.

Toronto, Kitchener-Waterloo-Cambridge, Brantford and Guelph recorded lower unemployment rates while Hamilton and St. Catharines-Niagara were slightly higher.

The provincial jobless rate tumbled to 5.4 per cent from 5.9 per cent in June.

(Twitter, @StatsCan_eng)

Posted in News & Sports

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