As many businesses have begun to reopen and Canadians have been returning to work following the easing of restrictions, the labour market has been experiencing a growth in employment across various sectors.
According to the ADP Research Institute, which analyzes monthly non-farm payroll data on a seasonally-adjusted basis, employment numbers increased by 1,042,900 from May to June, suggesting that a labour market recovery may be underway. Some of the largest gains were recorded in the trade, transport, and utilities sector, followed by professional and business services and then construction. However, the manufacturing sector posted significant declines.
Most notable however, was the revision of the total new jobs recorded in May, which originally were thought to be at 208,400, when in fact there was a decline of 2,951,400.
Information for this briefing was found via ADP Research Institute. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.