The economy added 90,000 jobs in August, while the unemployment rate fell to 7.1% for the month
However, the jobless rate remains elevated during the pandemic
America's employers added just 235,000 jobs last month
Canada's job vacancy rate reached 5% with unfilled positions in hospitality and retail
Taking population growth into account, CIBC says Canada's employment gap is around 650,000
Service sector employment rose in June, but job vacancies abound, StatsCan says
Yet, July's job gains were seen primarily in Ontario and in the service sector
The agency projects young people entering the job market now could see lower earnings
RBC warns that labour shortages are set to rise as retirements resume and more people are willing to leave their jobs
The number of part-time positions rose, while full-time jobs lagged