Unemployment dips as 246000 jobs added in August: StatCan

By The Canadian Press	
		Economy added 246,000 jobs in August unemployment rate 10.2%				Sep 4 2020 7:12 AM

By The Canadian Press Economy added 246,000 jobs in August unemployment rate 10.2% Sep 4 2020 7:12 AM

Employment among young men and women remain more than 15 per cent below pre-pandemic levels, after 873,000 youth aged between 15 and 24 lost their jobs between February and April. Only Toronto is in between the two Alberta cities with a rate of 13.9 per cent.

The agency nevertheless observed strong employment growth among South Asian Canadians, with their unemployment rate falling 2.9 per cent from July.

"We are seeing some, as expected, cooling down in decent job gains".

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In April, at the height of the COVID-19 economic shutdown, 3.4 million Canadians who worked their usual hours had adjusted to public health restrictions by beginning to work from home.

The participation rate in August - a measure of all those employed or looking for work - is now within 0.9 per cent of where it was in February, a sharper rebound than many expected, said CIBC senior economist Andrew Grantham.

The vast majority of gains were in full-time work, which recorded a bump of 206,000, and which had been lagging behind gains in part-time employment, which rose by 40,000 from July. While encouraging, the figure shows that many people who have been laid off or let go during the pandemic are not yet back to work. The country started to add 290,000 jobs in May, 953,000 in June, and 419,000 in July.

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The recovery in the province's hard-hit service sector continued into August.

Sudbury's unemployment rate dipped further in August to 8.6 per cent, down from 9.4 per cent in July.

Combined to job gains since May, employment levels are within the 1.1 million jobs before the pandemic hit. National unemployment dropped by 0.7 per cent in August to 10.2 per cent.

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Employment among returning students aged 15 to 24 dropped 11.4 per cent year-over-year, with nearly 90 per cent of job losses occurring in Ontario, where restrictions were eased later than in other provinces.

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