Manitoba boasts lowest unemployment rate in Canada

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Manitoba boasts lowest unemployment rate in Canada

The rate increases follows data suggesting the economy grew at a 4.5% annualized rate in the second quarter, and 3.7% on a year-over-year basis.

While not a particularly strong result by itself, today's report brings the total number of new jobs created over the previous year to a "staggering" 374,000, The Conference Board of Canada said in a statement. Of those new jobs, 213,400 were full time.

Ontario was the only province with a job surge, gaining 31,000 jobs in August. Wage growth has been muted despite solid gains in the labor market. It is the first time the region has recorded an increase in unemployment since January 2017, when unemployment rose to 9.1 per cent from 8.9 per cent in December 2016.

There was also a renewed gain in finance and real-estate jobs for the month while jobs in the trade sector declined.

Most of the decrease in full-time employment occurred among workers between the ages of 15 and 24. Everywhere else, the economy either lost or gained a small number of jobs. The goods-sector slide was led by a loss of 11,100 manufacturing positions.

"The headline beat, but the composition of the job gains was mixed and in my opinion poor on balance".

The streak of nine-straight months of job creation marked Canada's longest run since February 2008, when employment rose for a 10th-consecutive month.

"Overall, as much as it might be argued that the components of the report were sub-par, job expansion continues unabated, reflecting sustained economic momentum and businesses and consumers brimming with confidence", Desjardins senior economist Jimmy Jean wrote in a research note.

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