4d ago

Canada adds surprise 83,000 jobs in June, driving unemployment rate down to 6.9%

Surprisingly strong June jobs numbers quash Bank of Canada rate cut odds

11 comments

The vast majority of those jobs were part-time, the agency said.
Important detail.
- Yep. Was waiting for someone to mention that. Hardly any full times.
- So really, they only added maybe 40,000 jobs and are asking people to share.
- Where do freelancers fit in these stats?
  I’m sometimes over-employed and sometimes pretty damn near unemployed. 🤷‍♂️
Isn’t 6.9% unemployment still really high? 😬
- Depends on your perspective.
  The lowest it's been since 1990 is 4.5%, and that was a post-pandemic bounce-back in 2022. It's been over 10%, but the average is 6.6%. We are only slightly above that, which is amazing considering we are under direct attack from the States.
  I would expect those number to drop as Canada severs ties with the US and builds a more robust internal economy.
  And remember, every time you "buy Canadian" over something that would have come from the States, you are adding jobs to our workforce while taking them away (hopefully) from the American labour pool 🤗
  
  None of these numbers really matter unless we also consider the percentage of those jobs that are full time vs part time. The wages of those jobs should also be considered if we really want to be doing fair comparisons.
- Never let perfection be the enemy of progress. We're going through a rough patch as a nation so we take the small wins.
Nice
I bet Hawkin’s has been hiring since the US boycott started. Everyone I know is basically replacing their chips with Hawkin’s cheezies.

11 comments