Canada added 22,000 jobs last month, jobless rate ticks down to 6.2%
Ontario adds 31,000 jobs, but every other province either lost or gained a small number
Canada's economy added 22,000 jobs last month, with a surge in part-time work offsetting a loss of full-time jobs.
Statistics Canada reported Friday the jobless rate declined by 0.1 percentage points to 6.2 per cent — the lowest it's been since October 2008, right before the financial crisis.
The economy added 110,000 part-time jobs during the month, offset by a loss off 88,000 full-time jobs.
Ontario was the only province with a job surge, gaining 31,000 jobs in August — enough to push the province's jobless rate down four ticks to it's lowest level since 2001, at 5.7 per cent.
Everywhere else, the economy either lost or gained a small number of jobs.
But there were a few reasons for concern buried in the numbers.
The closely watched manufacturing sector, for example, lost another 11,000 jobs during the month.
"While very solid on the surface, the details of this report are generally sluggish," Bank of Montreal economist Doug Porter said, pointing out that the total number of hours worked dipped by 0.1 per cent in August compared to July, despite the surge of new workers.
That could be a sign that the amount of paid work in the economy is about the same, just being spread across a wider number of part timers.
"The details of the report were mostly on the soft side of the ledger," Porter said.