According to a latest release by the Labour Force Survey, the rate of employment has increased by about 93,000 in June. This led to a fall in the unemployment rate by 0.2% landing at 7.9%. Since January 2009, this has been the first time since the rate for unemployment has been below 8%.
It has been noticed that since July 2009, the rate of employment has been on a rise at +2.4% which means an increase by 403,000. This increase has literally overcome the losses which were encountered during the global downturn in 2008. The unemployment rate in the month of June was well above the rate in October 2008 (6.2%). The main reason behind this has been the rise in the number of people in the labor force.
This rise in employment in June was equally distributed between part time and full time employment opportunities. With this, most of the gains from employment from July 2009 have been from full-time jobs. The increase was about 355,000 which is equivalent to 2.6%. At the same time, an increase of 1.5% was seen for the part-time jobs.
The main increases in the employment was seen in various industries such as those of service, retail and wholesale trade, building and other support services, business, health care and social assistance. Apart from these, other services include personal care as well as automotive repair services.
It was also seen that in June, there has been a constant gain in the number of private sector employees. With this, the self-employed workers also increased with not much change when it came to the public sector employees.
When it comes to individual provinces, Ontario and Quebec saw the highest gains. There was an increase of about 60,000 employees in Ontario where as about 30,000 in Quebec. However, there was a reduction in New Brunswick and Newfoundland and Labrador. When it comes to other provinces, there was not much of change.