TORONTO, September 22, 2011 – Statistics Canada’s latest Labour Market survey saw a net loss of about 5,500 jobs in August, which pushed the unemployment rate up one tenth of a point to 7.3 per cent. And as worrysome as the results may seem on the surface, Randstad Canada President Jan Hein Bax says the Canadian job market is slowing but remains in generally good shape despite the recent report.
The loss of 5,500 jobs last month may have bucked market expectations for job gains, but it’s worth noting that it was the first time in five months that the number of jobs dropped in Canada and in the past year, employment has grown by 1.3 per cent, or 223,000 positions. Recent figures also show that Canada’s job growth is faring better than the U.S. job market.
According to Bax the growth in permanent positions is displacing part-time positions. “The weak employment numbers in July and August were caused by losses of part-time jobs, but there was also a gain in full-time jobs for both months,” he says.
Statistics Canada reports that “full-time jobs continued to displace part-time positions. Over the past year, full-time employment expanded by 300,000 people, while there were 77,000 fewer part-time jobs. Partly as a result of this shift, hours worked rose 2.6% in the past year, with half the increase occurring in July and August.”
“It was reported in the Observer that part-time work was reaching a 2 year-over-year low last August. While true, it is important to note that the growth trend in part-time employment on a seasonally unadjusted basis has been remarkably steady for the past decade. Over the last three years, for example, we have seen the August drop followed by a 8.5% to 9.0% increase in September,” says Bax.
“There are so many factors that occur this time of the year, like summer layoffs of temporary census workers and students going back to school,” says Bax. “Job seekers need to remain optimistic about their job prospects, as growth in full-time jobs show employers want to invest in projects and the skilled people they need to improve business,” he says. “The fall season is a good period to review your resume, research companies that have new openings or get some extra training to enhance your skills.”
Source: Randstad Canada
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