Canada loses over 51,000 jobs in biggest drop in nearly a decade

Canada loses over 51,000 jobs in biggest drop in nearly a decade

Figures released Friday by Statistics Canada showed our economy lost 51,600 jobs in August, with losses in part-time work overtaking gains in full-time employment. Last year, in August the unemployment rate was nearly double at 8 per cent for the region.

Employment fell by 52,000 last month, counteracting almost all of the gains in July and pushing the unemployment rate up 0.2 points to six percent, according to the report. Full-time employment increased 326,000 or 2.2%, while the number of people working part-time declined 154,000 or 4.3%. The reading represented a drop of 1.1 per cent for the province and pushed its unemployment rate up to 5.7 per cent, from 5.4 per cent.

Statistics Canada says the jobless rate in Windsor went up last month. It was 60.8 per cent last month compared to 60.5 per cent in July, 60.4 per cent in June, 60.3 per cent in May, and 59.3 per cent in April.

Economists had expected an increase of 5,000 jobs for August and the unemployment rate to be 5.9 per cent, according to Thomson Reuters Eikon.

Last month's drop, fuelled by the loss of 92,000 part-time positions, largely eliminated July's healthy net increase of 54,100 positions.

By industry, the data showed large declines in construction, professional and scientific services and agriculture, partly offset by gains in utilities and business and other services.