"Looking ahead to the second half of the year, it's pretty tough to see the job market making much significant headway — given the clouds that are surrounding the global outlook, whether it's Brexit, or Italian banks or the upcoming U.S. federal election".
-BMO Capital Markets
Canada's job market turned in another disappointing performance in June, taking into account absence of net new positions added and only one province showing any significant job growth.On Friday released data showed that Canada's unemployment rate went down during the previous month while the underlying details of the jobs report offered a gloomy economic picture since fewer people searched for work amid a sharp shift to part-time positions. Canada lost a net 700 jobs in June while the national unemployment rate plunged to 6.8%, Statistics Canada said Friday. Moreover, expectations were for a gain of 5,000 jobs and a slight increase in the jobless rate, to 7.0% from 6.9%, according to economists at Royal Bank of Canada. Overall, the drop was largely provoked due to the fact that fewer people were looking for work as more and more baby boomers move into retirement. The participation rate, in turn, dropped last month to 65.5% from 65.7%.
Nevertheless, on a positive note, service sector jobs continued to expand in June. They rose by 45,500 net positions, showing the biggest increases in accommodation and food services as well as information and culture.
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