A review of hirings and dismissals – July 2022: a decrease in employment observed

According to the latest data released by Statistics Canada’s Labor Force Survey (LFS), the number of people employed in Canada has fallen slightly over the past month. The country currently has 19,597,100 people in employment (-0.2%, compared to last month).

The sectors most affected by this decline are those of services, with a decrease of 76,000 (-0.5%) mainly recorded in the retail industry. On the other hand, an increase has been observed since last month in the goods sector, with an increase of 33,000 (+0.8%). The construction and manufacturing sectors were particularly affected by this increase.
Employment declined in Quebec and Newfoundland and Labrador in June. An increase compared to May is however observed in Prince Edward Island and Manitoba.

A first decline in employment since January 2022

The last month marks a decrease in employment of 43,000 (-0.2%), a downward result that is not associated with the public health restrictions imposed since the start of the COVID-19 pandemic.
The Canadian population is also currently less inclined towards self-employment. The survey records a drop in the number of self-employed workers of 59,000 (-2.2%). However, the figures remain stable for employees in the public and private sectors.

Decline among the oldest and stabilization of student employment

The decrease in employment in June is attributed to a drop in the number of people looking for work, particularly among workers over the age of 55 (-51,000; -1.2%). The decline mainly occurred among men aged 55 to 64 (-32,000; -1.8%).
A stabilization was recorded in June for people in the 25 to 54 age group, for both men and women.
The Survey also shows that the employment rate among young people aged 15 to 24 was higher in June (53.2%) than before the health crisis in June 2019 (51.2%). Figures similar to those recorded last May.

Canadian unemployment rate at historic low

June data indicates that the current unemployment rate is at a historic low of 4.9%, down -0.2% from May. Workers and unemployed workers have decreased by 54,000 (-5.1%) and now represent 1 million people in Canada.
*Source: https://www150.statcan.gc.ca/n1/daily-quotidien/220708/dq220708a-eng.htm

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