Weak private sector job numbers back speculation around economic recession
Job numbers released by Statistics Canada today are consistent with recent speculation around whether Canada’s economy has fallen into a recession.
Job creation has slowed; 66,000 jobs were created in the first quarter of 2015, only 33,000 were created in the second quarter.
The numbers also show there was a small market correction to the over abundance of part-time, precarious work and lack of full-time jobs. Canada’s labour market lost 71,000 part-time jobs and gained 65,000 full-time jobs.
Public sector hiring – not private sector hiring – accounted for most of full-time gains, providing 42,000 full-time jobs in June, mostly in British Columbia and Alberta.
“It’s good to see more full-time work created, but the overall economic picture is still grim,” said CLC president Hassan Yussuff.
“Canadians need a new government that will take us in a new direction that creates enough full-time, secure jobs to make up for years of labour market stagnation.”
Recent trade data shows that Canada’s exports continue to fall despite a lower dollar, dashing economists’ hopes that exports would spark economic growth.
“We need a new government that will work with the provinces and the territories to develop a solid manufacturing strategy if we are going to see exports spark the economic growth we need,” said Yussuff.
