13 August 2019

The finance, insurance, and real estate sectors showed an all-time high employment level, with 1,199,100 people employed in those segments last month. It’s 5,400 people more than in June. The monthly gain reached 0.45%, while an annual increase was 1.58%. However, the year-over-year growth was still softer than in case of the general economy.

The construction segment, which is strongly connected to the housing, also saw record high results, as 1,474,100 people were employed in July, adding 25,000 from June. It’s 1.73% higher than during the previous month and 2.67% higher than a year ago. Both gains exceeded the general market performance.

The real estate keeps driving the national economy, even amid slower re-sales. Construction, finance, insurance and housing combined employ 14.04% of all Canadians today.