OTTAWA—A rush of new part-time jobs offset a drop in full-time work last month to help the economy post a net gain of 54,100 positions and drop the unemployment rate to a four-decade low.
The July jobless rate was 5.8 per cent, down from 6 per cent the previous month, Statistics Canada said Friday in its latest labour force survey.
The country gained 82,000 less desirable, part-time positions last month — and it lost 28,000 full-time jobs.
A closer look at the numbers also showed the public sector made the biggest contribution to the July increase with 49,600 new jobs, while the private sector added 5,200 positions.
The agency said average hourly wage growth, which is closely monitored by the Bank of Canada, continued its gradual slide last month to 3.2 per cent after expanding 3.6 per cent in June and 3.9 per cent in May.
The total number of hours worked in July expanded 1.3 per cent, a slightly slower pace than the June reading of 1.4 per cent.
“In the wacky world of Canada’s monthly employment numbers, July came up with another head scratcher, with some big headlines but some disappointments in the fine print,” CIBC chief economist Avery Shenfeld wrote Friday in a research note to clients.