Alberta unemployment rate inches up as more people seek work

Bank of Canada

NL Unemployment Jumps a Full Percentage Point in a Month

According to June numbers from Statistics Canada, the jobless rate is 6.7 per cent, up from May's 6.5 and April's 5.9.

The local economy added 1,200 jobs in June, the labour force swelled by 1,800 while there was an extra 600 people who claimed unemployment.

"This report was more than enough to seal the deal on a July rate hike from the Bank of Canada", said Frances Donald, a senior economist with Manulife Asset Management.

The unemployment rate across the province was steady at 4.9 percent, while the national unemployment rate dropped from 6.1 to 5.9 percent last month.

"If the BoC continues with its current approach of assuming that current trade arrangements will be maintained, the threat of auto tariffs and further trade tensions between the US and China are unlikely to play a major role in the July 11th decision", he added.

But among all those aged 15 to 24, an increase of 27,000 job-seekers pushed the unemployment rate up 0.6 percentage points from May, to 11.7 per cent.

Tariff risks to the economy have intensified, Federal Reserve says
Monetary policy remains on course, despite worries about a global trade war, triggered by escalating retaliatory tariffs.

Only six analysts expected the central bank to keep rates on hold next week.

Compared with a year earlier, total employment increased by 1.2% 214 after the creation of 90 jobs.

More people were employed in construction, natural resources, and manufacturing.

Employment increased in Ontario, Saskatchewan, and Manitoba.

Services sectors, meanwhile, lost 14,700 jobs mostly because of big decreases in accommodation and food services positions as well as wholesale and trade.

Youth unemployment increased to 11.7 per cent last month, up from 11.1 in May.

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