Job Creation Up In Canada, U.S., But Workers Hard To Find
- The Canadian economy added 90,200 jobs in August — the third monthly increase in employment in a row — and the nation’s unemployment rate fell to 7.1 percent from 7.5 percent in July. The gains were concentrated in the services sector where employment is now back to pre-pandemic levels. Read the full Statistics Canada report here.
- In the United States, meanwhile, workers are becoming harder to find. The Bureau of Labor Statistics announced last week that there were 10.9 million jobs left unfilled in the nation in July. That number was at its highest level ever. Read the full report here.
- According to the U.S. Department of Labor, during the week that ended September 4, 2021, 310,000 individuals filed for federal unemployment benefits for the first time. The number of first-time claims was down from 345,000 the week before and was at its lowest level since March 14, 2020. The four-week moving average of claims was 339,500, a decrease of 16,750 from the previous week’s average. That number also was at its lowest level since March 14, 2020 — right before COVID-19-related lockdowns started in the United States.
- In other economic news: the U.S. Producer Price Index for final demand increased 0.7 percent between July 2021 and August 2021 and was up 8.3 percent between August 2020 and August 2021.