Greater Victoria's unemployment rate up slightly in June
Jul 07 2012Greater Victoria’s unemployment rate inched up in June as both the size of the labour force and those working declined.
The capital region’s rate moved to 5.3 per cent in June, up from 5.2 per cent in May, Statistics Canada said Friday.
This region’s labour force (those working and those looking for work) slipped to 196,100 last month, from 197,300 in May, the federal agency said.
Also, the number of workers slid to 185,700 in June, from 187,100 the previous month.
As Victoria’s rate climbed slightly, B.C.’s unemployment rate decreased slightly in June.
Despite little change in the number of people with jobs, the federal agency said B.C.'s unemployment rate dipped by 0.8 percentage points to 6.6 per cent, as fewer people were looking for work.
The national unemployment rate dipped to 7.2 per cent in June from 7.3 per cent, Statistics Canada said.
Overall, Canada's job growth slowed in June for a second straight month, in a reality check after outsized employment gains earlier this year and as business confidence worsens due to the European debt crisis and the stalled U.S. economy.
The economy generated just 7,300 net new jobs last month, adding to the 7,700 in May, according to the data.
The June increase was roughly in line with market forecasts of a 5,000 gain and is considered negligible as it is within the margin of error for Statscan's household survey. Analysts had anticipated some payback for the unsustainable two-month jump of 140,500 jobs in March and April - the biggest in over 30 years.
The biggest job gains in the month were in the services industry while the goods-producing sector shrank its work force, with the biggest declines in agriculture, natural resources and construction.
Hiring appeared strong in the public sector, with some 38,900 workers added to payrolls while the private sector laid off 26,000 employees.
On the bright side, nearly 30,000 full-time jobs were created while 22,000 part-time ones were lost in the month. Wages also improved markedly, with the average hourly wage of permanent employees climbing 3.3 percent from a year earlier, compared with a 2.9 percent increase in May.