Canada's Low 6.3% Unemployment Rate Hides Stubbornly Low Participation Rate

TORONTO, ONTARIO--(Marketwired - Aug. 4, 2017) - Canada's Labour Force Survey released today showed that the unemployment rate declined by 0.2 percentage points in July to 6.3%, the lowest rate since October 2008 just prior to the financial crisis. That said the labour force participation rate, which measures those actively looking for work, also edged down to 65.7%, near the ten-year low.

"It's great to see a low unemployment rate but it's disappointing to see a decrease in the labour force participation rate," said Bob Funk, CEO of Express Employment Professionals. "Canadian businesses are having a hard time finding workers. It's important for people to get off the sidelines and into the workforce."

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About Robert A. Funk

Robert A. "Bob" Funk is chairman and chief executive officer of Express Employment Professionals. Headquartered in Oklahoma City, the international staffing company has more than 770 franchises in the U.S., Canada and South Africa. Under his leadership, Express has put more than 6 million people to work worldwide. Funk served as Chairman of the Conference of Chairmen of the Federal Reserve and was also the Chairman of the Federal Reserve Bank of Kansas City.

About Express Employment Professionals

Express Employment Professionals puts people to work. It generated $3.05 billion in sales and employed a record 510,000 people in 2016. Its long-term goal is to put a million people to work annually. For more information, visit ExpressPros.com.