More than 40,000 jobs lost in June: Statistics Canada

Employment levels in Canada fell in June, according to the latest labour market report from Statistics Canada.

The agency says 43,000 jobs were lost, falling 0.2 percentage points, due to a decrease in workers aged 55 years and older.

The unemployment rate now sits at 4.9 per cent, a new record low. 

The agency also says June was the first month when COVID-19 restrictions were not blamed on the job numbers in recent years.

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The loss also offsets the gains Canada saw in May, when 40,000 jobs were added.

Meantime, many saw their hourly wage jump in June, depending on where they worked.

Across the country, the average hourly wage for union employees increased by about $1.20 to $34.32 an hour on a year-over-year basis. But those outside of unions saw a larger increase, up $1.70, but are paid lower than their union counterparts at $29.90.

“There were 421,000 people who wanted a job but did not look for one, little changed from May. The adjusted unemployment rate—which accounts for this source of potential labour supply—decreased 0.2 percentage points to 6.8% in June, marking the second consecutive record low.”

However, while thousands of older workers are leaving their jobs, the number of young people in the workforce is surging.

Statistics Canada says 15 to 24 year olds are entering or returning to the job market (53 per cent) in numbers even higher than pre-pandemic times.

“A notable part of this increase is attributable to female students aged 20 to 24, more than three-quarters (76.0%) of whom were employed in June. This was the highest June employment rate on record for this group since comparable data first became available in 1977,” the agency said.

Young female workers are finding employment in education, health care, and social assistance fields primarily.

The number of young males in the same age bracket appears to remain unchanged since June 2019, at 68 per cent.

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