More Jobs lost in Canada in July 2010

Aug. 7, 2010 - PRLog -- Aug. 6, 2010, http://www.WorldWealthBuilders.com
Toronto — In July, employment decreased in finance, insurance, real estate and leasing (-30,000), bringing employment in this industry back to its July 2009 level. The number of workers in the education sector was down 65,000 in July. The large drop in educational services in July was spread across several occupation groups, including educational assistants, teachers and administrators in primary and secondary schools as well as custodial staff.

The Canadian economy unexpectedly shed 9,300 jobs in July, most of them full-time positions, as the pace of recovery shows signs of slowing .Statistics Canada said Friday that 139,000 full-time jobs were lost during the month, while 129,700 part-time positions were created.

Large full-time declines (-139,000) in July were mostly offset by part-time gains (+130,000). July’s strong part-time increase brings total gains in part time to 177,000 since July 2009. Over the same period, full-time employment has grown by 216,000.

In July, employment decreased in educational services and in finance, insurance, real estate and leasing. At the same time, there were increases in manufacturing and public administration.
Quebec posted employment losses in July, while Alberta and British Columbia had increases. In all other provinces employment was little changed.

Average hourly wages were up 2.2% from July 2009, similar to the year-over-year increases of recent months.

The July employment loss followed six straight months of job growth for Canada. It follows a surge of 93,200 positions people in June and 108,700 in April, which set a record. Still, after a strong initial recovery from the recession, Canada’s economic growth is beginning to slow. The Bank of Canada’s now expects the economy to grow 3.5 per cent for all of 2010 and see 2.9 per cent expansion in 2011.

The economy has huge effect on the Real Estate Market.For professional Real Estate investors,economic environment can be decisive factor to buy or sell investment properties.
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