What to know
- Canada added approximately 75,000 jobs in July, beating expectations as the unemployment rate fell to 6.4 per cent, its lowest level in two years.
- Retail trade (21,000 jobs), finance, insurance, real estate, rental and leasing (18,000), professional, scientific and technical services (17,000), and construction (16,000) saw the strongest hiring, while public administration (-15,000) and agriculture (-9,600) recorded the biggest losses.
- Average hourly wages increased 2.8 per cent year-over-year, slowing slightly from June’s 3.3 per cent growth, while 44,000 more Canadians became self-employed.
- Women aged 25 to 54 led employment gains, with 33,000 new jobs and their unemployment rate falling to 5.2 per cent, as more unemployed Canadians found work compared with the same time last year.
Canadians looking for a new job should look no further than retail trade, financial, and construction sectors, as a new Statistics Canada report highlights those industries for seeing rising employment rates.
Roles filled
Latest data from the national statistical agency show higher-than-expected numbers when it comes to employment rates last July, with the country seeing an increase of around 75,000 new roles filled.
The trend continues, as unemployment rates fell by 0.1 per cent to 6.4 per cent, making it the lowest it has been in two years.
Where job-seekers will find the most success
The Labour Force Survey also found that most of the hiring came from the private sector, within retail trade, finance, insurance, real estate, rental, leasing, professional, scientific, technical services and construction.
Retail trade led the pack with 21,000 new hires, followed by the finance, insurance, real estate, rental and leasing sector with around 18,000. Professional, scientific, and technical saw an addition of 17,000 jobs, while construction also thrived with an additional 16,000.
The survey showed that the industries showing the least amount of growth were public administration and agriculture, where significant declines were seen. Public administration dropped around 15,000 positions, while agriculture let go of 9,600.
Wages
Average hourly wages among employees were up 2.8 per cent, a slight decrease compared to June’s numbers, where wages were up 3.3 per cent.
Hiring demographics
The number of unemployed people who found a job between June and July rose to 20.8 per cent, up from 18.5 per cent around the same time last year. Although this was still below the pre-COVID-19 pandemic average of 26.6 per cent from 2017 to 2019, before seasonal adjustments.
Those hired were mostly women between the ages of 25 and 54, with the unemployment rate falling about 0.3 per cent to 5.2 per cent. About 33,000 of those hired were women in this age group, versus 18,000 for men in the same age group – a small change from the month prior.
Aside from private sector positions, the country also saw a rise in self-employment, with 44,000 new workers opting to be their own managers.
As Canada’s workforce enters the second half of the year, it’s in the green, with businesses continuing to hire within multiple industries. Job-seekers should take this opportunity to apply to jobs within retail, finance, real estate and construction sectors for the best chance of securing work.
