Payroll employment growth was modest in July, rising for a fifth straight month…

… on broad-based gains led by education and health care, which offset outflows in public administration and wholesale trade.

Notwithstanding the continued momentum in payroll, job vacancies have been largely flat for over a year at 501K…

… resulting in an elevated unemployment-to-vacancy ratio. Combined with an ongoing trade war and elevated unemployment duration, let’s hope the Canada Investment Summit gets projects and job creation moving.

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