January unemployment up from December, drops from start of 2018

10 February, 2019, 17:37 | Author: Regina Silva

In B.C., Stats Canada says the unemployment rate climbed three-tenths to 4.7 per cent in January, still the lowest of any Canadian province.

Statistics Canada's monthly Labour Force Survey provides estimates of employment and unemployment, based on a sampling of households in communities.

The national unemployment rate increase by 0.2 per cent to 5.8 per cent in January.

"Following a quieter month in December", when the economy generated only 9,300 new jobs, January's figures "blew past expectations" commented Royce Mendes of CIBC Economics, for a modest gain of 5,000 to 6,000 jobs.

This came despite a net increase of 1,900 jobs from December to January because the labour force - which includes people looking for work - swelled by 4,000.

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According to Statistics Canada, there were 18, 873, 900 people working last month across all of Canada, with 1,162,000 people unemployed.

Provincially, B.C. continued to have the lowest unemployment rate in the country for the 17th month in a row in January, at 4.7 per cent while nationally, Canada's unemployment rate was 5.8 per cent. "On a trend-cycle basis, self-employment has levelled off in recent months", said StatsCan.

"On a year-over-year basis, the number of private sector employees rose by 293,000 (+2.5 per cent), while the number of public sector employees grew by 62,000 (+1.7 per cent). Over the same period, there was little change in the number of self-employed workers". Energy-rich Alberta, hit hard by the oil-price decline, shed jobs for a second-straight month and saw its jobless rate rise to 6.8 per cent, up from 6.4 per cent.

"Definitely the headline job gain was very impressive", said BMO chief economist Douglas Porter.

"Volatility returned with a notable increase in employment during the month of January", he wrote. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.

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