OTTAWA (Reuters) - The Canadian economy unexpectedly added 54,100 jobs in July on strength in part-time hiring and the unemployment rate dipped to equal a record low 5.8 percent, Statistics Canada data reported on Friday.
The increase was far greater than the 17,000-job gain predicted by economists in a Reuters poll. The jobless rate had been 5.8 percent from February through May, the lowest since the current method of calculating unemployment was introduced in 1976, before edging up to 6.0 percent in June.
The report looked set to boost market speculation that the Bank of Canada, which has raised rates four times over the last year as the economy strengthened, could hike again next month.
Part-time employment jumped by 82,000 jobs while 28,000 full-time positions were shed. Employment in the goods-producing sector fell by 36,500 jobs, mostly in manufacturing, while the services sector gained a net 90,500 positions, the majority in education and health care.
Average hourly wages in July, a figure watched closely by the central bank, rose by 3.0 percent from a year earlier. The year-over-year increase was the smallest since the 2.9 percent gain in December 2017.
(Reporting by David Ljunggren; Editing by Jeffrey Benkoe)