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The unemployment rate in Canada in August left 6.2%

The number of new vacancies in Canada increased last month, while unemployment declined for the third time in a row, demonstrating a new post-crisis minimal value. It is worth noting that the number of vacancies calculated for full-time work in the reporting period has significantly decreased. Salary growth demonstrated the most intensive dynamics in the last ten-month period, however, the pace remained less than 2.0%.

According to the published report, the increase in the number of vacancies was 22,200. Experts assumed that the increase will be in the range of 15,000. As compared to the same period last year, the number of vacancies increased within 374,300, which is 2.1%. Almost 60% of the vacancies that have been created in the last year are designed for full-time employment, and the salary there is higher, and the people who receive these places have more favorable labor conditions.

Unemployment fell to the level of 6.2%, at the level of October 2008, - at the level that was observed before the very financial crisis. If we estimate unemployment based on American calculation algorithms, Canadian unemployment in August reached 5.3%.

Not without negativity. The number of full-time vacancies fell within 88,100, but the number of vacancies for part-time employment increased from 110,400. The number of vacancies in companies decreased by 10,400, and the number of citizens working for themselves (meaning people, who work under the labor agreement), increased within 32,700.

The average weighted hourly wage rose by 1.8% year-on-year. This was the most significant increase in wages since October 2016. In June 2016, the last time the growth of this indicator was observed was higher than 2.0%.