Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |


Canadian Employment (Aug) - September 4, 2020

Canadian employment gained 246,000 jobs in August (1.4%, m/m), following a gain of 419,000 in July. Combined with gains in May and June, national employment is now within 1.1 million of its pre-COVID February level. The national unemployment rate fell by 0.7 percentage points to 10.2% from the previous month. August gains were driven by full-time work, wherein the previous month it was in part-time work. Employment continued to increase at a faster pace in the services sector with the help of growth in educational services, accommodation and food services, and in other services sectors. Compared to the same month last year, Canadian employment was down by 5.3% (-1 million). 

Regionally, employment increased in all provinces except in Alberta and in New Brunswick, with the largest gains in Ontario (142K) and Quebec (54K). In BC, employment grew by 15,000 (0.6%,m/m) in August, which follows a 70,000 gain in July. The province is now at 94% of its pre-COVID February employment level. The gain in August brought down BC's unemployment rate by 0.4 percentage points to 10.7%. Meanwhile, in Vancouver, employment decreased by 2,300 jobs in August. Compared to one year ago, employment in BC was down by 6.6% (-170K) jobs. 

Canadian employment grew for a fourth consecutive month, but the pace of growth is slowing. This was expected as containment restrictions were lifted in the early summer months, but have since halted in an effort to contain rising virus infections. Employment recovery is expected to continue to slow from here on, as many of the hardest-hit industries have reopened and educators start to return to school. 

Copyright British Columbia Real Estate Association. Reprinted with permission.


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.