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Wood Buffalo-Cold Lake region unemployment rate falls 0.6%

The Canadian labour market beat expectations last month by adding 45,300 positions.

Statistics Canada says the vast majority of the new jobs in June were in part-time work, although the number of full-time positions also increased.

The agency says the national unemployment rate edged down to 6.5 per cent.

According to StatsCan the Wood Buffalo-Cold Lake region’s unemployment rate dropped 0.6 per cent, from 8.3 to 7.7.

Approximately 1,300 more jobs were added to the market in June compared to May 2017.

The national increase adds to a series of positive job-market gains since the middle of 2016 and comes amid widespread expectations that the Bank of Canada will hike its benchmark interest rate next week.