Students who have been hunting for a summer job and recent immigrants looking for work have felt the brunt of the country’s weakening labour market, Statistics Canada’s latest employment report shows.
Health care and social assistance employment numbers rose in July to 39,500 from July of last year at 33,400. “For the second straight month, Canadian employment was essentially unchanged, disappointing expectations for a modest 25,000 gain,” wrote TD senior economist Leslie Preston in a client note.
Statistics Canada says that’s the lowest employment rate for returning students since July 1997, outside of July 2020 during the COVID-19 pandemic. “Youth and recent newcomers to Canada are a bit more cyclically sensitive to the ups and downs of the job market. But what’s also going on is both groups experiencing rapid population growth,” Bernard said.
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