West Coast hit hard after nearly 19K full-time positions lost
The province shed 4,300 jobs from the economy in August, according to data from Statistics Canada released Friday.
This helped push the unemployment rate up 0.3 percentage points to 5.8 per cent – still a far cry from 6.6 per cent nationally .Full-time jobs were the biggest victim of B.C.’s soft employment numbers, with 18,700 positions lost compared with the 14,400 part-time jobs gained. The biggest industry losses for the province hit health care/social assistance and business/building/other support services .“This report highlights the steady build-up of slack in the Canadian economy and specifically in the labour market,” Porter said in a note, referring to the national figures.
He added that there is still a lot of data to be released before the Bank of Canada’s next rate decision in October, but the odds of the central bank cutting its overnight rate by 50 basis points are building.More to come …
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