OTTAWA — Statistics Canada will report this morning how well the country’s job market fared in August.
After seeing a historic drop of some three million jobs over March and April at the height of the COVID-19 pandemic, the economy has since recovered just over half of what was lost.
Expectations are for a gain again in August, but at a slower pace than previous months.
Financial data firm Refinitiv says the average economist estimate is for a gain of 275,000 jobs in August and an unemployment rate of 10.1 per cent.
Canada’s labour market gained 418,500 jobs in July, a slowing from the 953,000 jobs gained in June, and the unemployment rate dropped to 10.9 per cent as part of a continuing slide down from the record-high 13.7 per cent in May.
Economists have noted faster gains in part-time versus full-time work, and an increasing share of part-time workers who prefer full-time work compared with July 2019.
Brendon Bernard, an economist with job-posting website Indeed.com, wrote this week that August job numbers could yield a few more quick wins with more parts of the country open for business, such as the return of indoor dining across parts of Ontario after July’s survey week.
This report by The Canadian Press was first published Sept. 4, 2020.
