Canadian and US Employment - July 6, 2012

Canadian employment held steady for the second consecutive month in June while the National unemployment rate ticked down by 0.1 points to 7.2 per cent.  Year-over-year, Canadian employment was 1 per cent higher than June 2011.  The BC economy added 3,200 jobs last month, including 2,400 full-time positions. Higher payrolls combined with a large drop in the labour force to push the BC unemployment rate down 0.8 points to 6.6 per cent. However, the provincial unemployment rate has been unusually volatile in recent months and we expect that June's big decline is mostly temporary.  June employment numbers were 2.3 per cent higher compared with 2011.

South of the border disappointing jobs creation continued with just 80,000 new jobs added in June, falling well short of already diminished expectations of 100,000 new jobs. The US unemployment rate held steady at 8.2 per cent.

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