Unemployment rates hold steady for Lloydminster region

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The Bank of Canada raised its key lending rate in July by 0.25 percentage points to 1.50 percent.

"While a lot of the attention is going to go to the fact that this was a very large increase in headline employment, it is not almost as strong as that number makes it seem", said Andrew Kelvin, senior rates strategist at TD Securities.

The economy added 54,100 jobs, another strong month following a 31,800 gain in June.

After three straight months of climbs, the unemployment rate in western Alberta has dropped.

The July jobless rate was 5.8%, down from 6% the previous month, Statistics Canada said Friday in its latest labour force survey.

Month-over-month, Saskatchewan's employment fell by 4,200, bringing the unemployment rate up 0.3 percentage points to 6.6 per cent.

While the number of jobless seems to have taken a large leap month-to-month, the local data can't be accurately compared, as it doesn't take seasonal factors into consideration.

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Nationally, employment rose by 54,000 in July, mostly due to increased part-time work.

First is the fact the gains came on the back of 82,000 less desirable part-time positions while the country shed 28,000 full-time jobs.

Calgary's rate increased slightly from 7.7 per cent to 7.9 per cent.

The Bank of Canada has raised rates four times over the a year ago as the economy strengthened and says further tightening will be data dependent.

Compared with a year earlier, overall employment was up 1.3 per cent following the addition of 245,900 jobs for an increase driven by 210,500 new full-time positions.

"Employment rose in a number of services-producing industries: educational services; health care and social assistance; information, culture and recreation; and the other services industry", Stats Canada reported.

The agency said average hourly wage growth, which is closely monitored by the Bank of Canada, continued its gradual slide last month to 3.2% after expanding 3.6% in June and 3.9% in May.

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