Thomas jobless rate falls to 5.6 % in July

Saskatchewan sheds 400 jobs in July pushing up the province’s unemployment rate to 6.6 per cent

In July, the agency reported there 81,300 jobs in Sudbury, an increase of 700 compared to June.

The unemployment rate declined by 0.2 percentage points to 6.3 per cent, its lowest level since October 2008 as the number of people looking for work dropped. "On a year-over-year basis, employment in the province rose by 13,400 (+2.1 per cent), mainly in full-time work".

New Brunswick unemployment went down to 6.5 per cent in July, from 8.1 in June. That's also 5,300 more than were employed or seeking jobs in July of a year ago.

The Canadian economy added almost 11,000 jobs in July, the eighth consecutive month of growth, as the unemployment rate fell to its lowest point in almost nine years, Statistics Canada said Friday. The decline was partially offset by the addition of 2,300 part-time positions.

Still, Canada's labor market has picked up in the previous year, adding 387,600 jobs since last July, with 353,500 of those full-time positions.

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The latest economic data follows a decision by the Bank of Canada last month to raise its key interest rate target to 0.75 per cent, its first increase in nearly seven years.

Nation-wide, the jobless rate has fallen to the lowest it's been since the start of Canada's financial crisis nine years ago.

RBC economist Josh Nye said the average monthly increase of 28,000 jobs in the last twelve months is well above the pace needed to absorb new entrants into the labour force.

The central bank already raised rates last month, and investors are pricing in at least one more hike by the end of this year.

There were 345,000 more Americans who gained employment over the month, and more individuals joined the labor force as well. That followed staggering employment growth of 45,300 in June and 54,500 in May.

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