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Canada adds 246,000 jobs in August, unemployment rate now 10.2 per cent

Last Updated Sep 4, 2020 at 6:12 am PDT

A woman checks out a jobs advertisement sign during the COVID-19 pandemic in Toronto on Wednesday, April 29, 2020. Statistics Canada will say this morning how well the country's job market fared last month.After seeing a historic drop of some three million jobs over March and April, gains since then have recovered just over half of what was lost. THE CANADIAN PRESS/Nathan Denette

Canada's unemployment rate fell to 10.2 per cent in August, compared with 10.9 per cent in July

The economy added close to 246,000 jobs in August

OTTAWA (NEWS 1130) – The economy continues to rebound from the depths of the COVID-19 pandemic, with Statistics Canada reporting 245,800 jobs were added in August.

The unemployment rate fell 7-10ths of a point to 10.2 per cent last month, compared with 10.9 per cent in July.

“Combined with gains of 1.2 million in May and June, this brought employment to within 1.1 million of its pre-COVID February level,” the agency says.

Financial data firm Refinitiv says the average economist estimate is for a gain of 275,000 jobs in August and an unemployment rate of 10.1 per cent.

Canada’s unemployment rate has slowly been bouncing back after the COVID-19 forced businesses to shut down and people to physically distance themselves from others.

The economy slowly started to reopen in June.

Richard Dettman will have more in Business at :26 and :56.