The Canadian economy added 90,000 jobs in August, according to data from the Canadian Statistics Office compared to 94,000 items added to the Canadian economy in July to exceed expectations that added the economy for only 67,000 jobs in an increase in the third consecutive month.
Unemployment rates have fallen to 7.1% in August compared to 7.5% in July, while expectations indicate a decline to 7.3% recorded a low of the pace since the beginning of the epidemic.
The increases are mainly in the service industries sector led by accommodation and food services by adding 93,000 jobs, including 75,000 in the residence and food sector and 75,000 jobs in the information and culture and entertainment sector, in contrast to 20,000 construction sector, for the first time since March 2021.
The Canadian Dollar is trading on an increase against the US dollar at 1.2585 levels benefiting from this data.
06/11/2024
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