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Canada unemployment rate holds at 7.1 per cent in June

Canada's best month for job creation in more than a decade

Canada’s unemployment rate was little changed in June, which is a performance better than economists had expected.

Statistics Canada said the unemployment rate stuck at 7.1 per cent in June, as the number of jobs increased in Manitoba and Saskatchewan and fell in New Brunswick and Prince Edward Island.

There was an increased in professional, scientific and technical services jobs in June, while employment dropped in accommodation and food services as well as information, culture and recreation, StatsCan said.

Economists were expecting Canada to lose about 8,000 jobs in June, after a surprising increase of 95,000 job in May. Instead, a scant 400 jobs disappeared last month.

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“After the fireworks of huge gains in May employment, markets weren’t expecting much in June, and that’s exactly what we got,” said CIBC chief economist Avery Shenfeld.

“It’s easy to shrug off one weak month in this series after the leap in the prior month …. Indeed, the jobs trend has been quite a bit better than the pace of GDP growth would typically have justified.”

Employment growth averaged 14,000 per month for the first half of the year, StatsCan said, which is slower than the average of 27,000 in the last six months of 2012.

StatsCan said employment grew by 1.4 per cent, or 242,000 jobs in the past 12 months, while the total number of hours worked increased by 0.6 per cent.