August 2019 Labour Force Survey: The Details Tell the Real Story
The Canadian job numbers perked up in August following a few tepid months.
Solid employment numbers kept the Canadian labour market trending upwards in August. Job growth was led by part-time gains, as well as among youth. Both categories have seen their ups and downs recently, but have been trending higher overall. Part-time work has jumped up over the past year, but the rate of full-time job growth has also been solid.
The pace of hourly wage growth fell back in August, from what seemed like an exaggerated rate in July. Nonetheless, earnings were still up a solid 3.7% from a year earlier, consistent with recent strengthening of different wage indicators. We’ve been waiting for the tighter labour market to start showing up in Canadian paychecks — it could be finally happening now. The Bank of Canada will surely take note when it balances its considerations of domestic and foreign economic conditions at its next meeting in October.
Brendon Bernard is an Economist at the Indeed Hiring Lab, focusing on the Canadian labour market. His research interests include analyzing how detailed trends in the job market fit in with broader developments in the Canadian economy. Brendon was previously an economist with Department of Finance Canada, where he focused on analyzing Canadian financial sector policy and the U.S. economy. He holds a Master’s in Economics from the Vancouver School of Economics at University of British Columbia, as well as a Bachelor of Arts (Honours) from Queen’s University.