Region's unemployment rate up

The New Brunswick economy lost 1,100 jobs in June pushing the unemployment rate up to 7.5 per cent according to Statistics Canada

Across Canada, 31,800 jobs were added to the economy.

The rate of employment in the region increased by over two percent, from 68.5 to 70.6 percent, making it the economic region with the highest rate of employment in B.C. Despite that, Northeast B.C.'s unemployment rate was the second-highest of any region in B.C. for the second straight month.

The federal agency reported on Friday that the rate was up from 6.2 per cent the previous month.

"If the BoC continues with its current approach of assuming that current trade arrangements will be maintained, the threat of auto tariffs and further trade tensions between the USA and China are unlikely to play a major role in the July 11th decision", he added.

For the fourth consecutive month, Montreal had a lower unemployment rate than Toronto in June.

The Bank of Canada is expected to raise its target for the overnight rate to 1.5% on Wednesday.

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The jobs gain was driven by an increase of 22,700 in part-time positions, while full-time work rose by 9,100.

Employment increased in Ontario, Saskatchewan, and Manitoba.

By sector, the numbers showed goods-producing industries added 46,600 positions in June thanks to job-creation boosts in construction, natural resources and manufacturing. At the same time, employment decreased in accommodation and food services, and in agriculture.

"We expect a rise in July 2018 and, after that, in January 2019 and in July 2019", said Francis Genereux, senior economist at Desjardins Group.

Higher imports in May of aircraft, other transportation equipment and energy products fuelled most of the increase.

Exports declined mostly because of weaker trade on motor vehicles and parts as well as metal ores and non-metallic minerals.

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