Canadian jobs data released on Friday showed additional jobs in June, far exceeding experts ’targets. This indirectly puts employment in the 1.8% level of pre-pandemic levels.
Canada managed to add 230,700 jobs in June, beating analysts ’expectations of 195,000, as civil restrictions eased in some counties based on a Statscan report. The unemployment rate fell 0.1% from the target with a reading of 7.8% in June.
According to Derek Holt, vice president of Capital Market Economics at Scotiabank, the main report looks good but it is mostly driven by an increase in part -time employment,
Part -time employment has increased by 263,900 driven by a strong increase in youth. Full -time employment dropped by 33,200.
Ontario, Canada’s most densely populated district, relaxed several bans in June, allowing restaurant and supermarket businesses.
The Canadian dollar traded 0.3% higher at 1.2471 against the US Dollar as of 1.2494.
