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Montreal unemployment rate drops to lowest level since December

06 July 2018

The unemployment rate stood at 7.5 per cent in June, up from 7.3 in May.

Still, average hourly pay rose just 2.7 per cent in June from 12 months earlier, meaning that after adjusting for inflation, wages remain almost flat.

Not all of those who re-entered the market were able to find jobs, which contributed to the uptick in the unemployment rate.

The job numbers for the month of June indicate USA manufacturing continues to gain momentum.

The big story in Friday's report, however, was the increase in labor force participation, which rose from 62.7% in May to 62.9% in June. The one blemish, merely skin deep in this case, was that the unemployment rate rose to 4% from 3.8%.

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The London-area economy appears to be on a roll, despite an increase in the jobless rate.

The steady growth in the labour force so far this year has reversed a steady decline seen through the latter half of 2017.

Manufacturers added 36,000 jobs last month; the education and health sector added 54,000.

USA non-farm payrolls increased by rose by 213,000 jobs last month, the Labor Department said today. The figures for the previous two months were also revised higher.

Altogether, 285,000 new jobs have been added in the manufacturing sector in the past year. Additionally, the Trump administration has drawn attention to the record-low of African American unemployment, even as it remained higher than the overall rate at 5.9%. Over the past three months, the economy has produced a robust average monthly job gain of 211,000.

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In Ontario, employment rose by 35,000 in June, bringing year-over-year gains to 157,000. Some economists project economic output rose at better than 4% annual pace in the second quarter for the first time since 2014.

Economists have warned the tit-for-tat import tariffs could disrupt the supply chain, undermine business investment and raise prices for consumers, and wipe out the stimulus from a $1.5 trillion tax cut package that came into effect in January.

The economy also faces a substantial threat from the Trump administration's trade war with China and from other, ongoing trade disputes with US allies, including Canada and Europe.

Automakers added 12,000 jobs in June, but the tariffs could weigh on that industry's job growth in the coming months.

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Montreal unemployment rate drops to lowest level since December