Canadian economy sheds more than 50,000 jobs in August – but the news isn’t all bad

Canada’s economy lost 52,000 jobs last month according to the latest Labour Force Survey from Statistics Canada. The surprising job losses follow several months of steady gains in employment. This brought the national unemployment rate up to six per cent from the historic low of 5.8 per cent, and nearly wiped out the gains of 54,000 jobs we saw last month.

However, a closer look at the numbers reveals that the glass is actually half full. While the country lost 92,000 part-time jobs last month, there were actually more than 40,000 more people working full-time in August (which brings us to the net loss of 52,000 – all part-time jobs).

The biggest losses were seen in Ontario, which shed more than 80,000 jobs – all in part-time work – last month. That marks the greatest decline in employment in Canada’s largest province since the recession. Alberta and Manitoba saw increased employment last month, while there was little change in the other provinces.

Year-over-year, there were 326,000 more people working full-time in Canada, a 2.2 per cent increase. Those gains were partially offset by a loss of 154,000 part-time jobs.

The unemployment rate in New Brunswick climbed to 8.0 per cent, up half a percentage point from the 7.5 per cent seen in July. [View jobs in New Brunswick on CareerBeacon.]

Here’s a look at the unemployment rates across the country right now:

Newfoundland and Labrador 14.4 per cent [View jobs in Newfoundland and Labrador]

Prince Edward Island 9.3 [Jobs in PEI]

Nova Scotia 8.4 [Jobs in Nova Scotia]

New Brunswick 8.0 [Available jobs in New Brunswick]

Quebec 5.6 [See jobs in Quebec]

Ontario 5.7 [Job opportunities in Ontario]

Manitoba 5.8 [Jobs in Manitoba]

Saskatchewan 6.7 [Jobs in Saskatchewan]

Alberta 6.7 [Available jobs in Alberta]

British Columbia 5.3 [See jobs in B.C.]

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