The unemployment rate fell to 6.5% in June, better than expectations for a flat reading…

… on the back of nearly 20K part-time adds, with next-to-no change in full-time employment after last month’s big print.

At the industry level, wholesale trade and food services led the way - offsetting a sequential drop in manufacturing and construction.

While average unemployment duration ticked higher in the month (>23 weeks)…

… companies breaking ground on new investments should help get the labour market unstuck over time.

About Bullpen: Bullpen Finance Inc. publishes content on Canadian markets and provides paid research coverage of select Canadian issuers. Bullpen is paid in cash by covered issuers, does not accept stock or options, does not hold positions in covered securities, and does not conduct investment banking business. Bullpen and LodeRock Advisors Inc. are affiliated; LodeRock provides investor relations services to issuers, some of whom are covered by Bullpen Research. When a post discusses a covered issuer, a specific disclosure appears at the top of the post. This post is published for general information purposes. It is not personalized investment advice and is not tailored to any individual reader’s circumstances. Bullpen is not a registered investment adviser or dealer. For full disclosures, including analyst certification, jurisdictional statements, and conflict of interest policies, please see our Legal & Disclosures section on our website.

You might be interested in…