State of the labour Market

August 2019 Labour Force Survey: The Details Tell the Real Story

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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.  

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