B.C. adds 11,200 jobs in July, erasing previous month’s losses

B.C. overcame national trends, adding more full-time jobs

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B.C. added 11,200 jobs in July, making up for losses the previous month when the province shed 8,000 positions.

Data released August 10 from Statistics Canada also reveals B.C.’s unemployment rate dipped from 5.2% to 5% between June and July.

While the nation added 54,000 jobs last month, those gains were led by part-time jobs (+82,000). Meanwhile, the country lost 28,000 full-time jobs.

But B.C. beat the national trend, adding 9,600 full-time jobs and 1,600 part-time jobs.

“The labour market remains robust and there is easily enough here to convince the Bank of Canada to maintain its gradual tightening campaign — there’s just not enough to get it to accelerate the schedule,” BMO chief economist Doug Porter said in a note to investors.

“Today’s job report is a classic case of  ‘nice headlines, shame about the details.’”

Meanwhile, TD senior economist Brian DePratto said in a separate note that the latest job numbers indicate a quarter-point rate hike from the central bank are likely to come in October.

torton@biv.com

@reporton