Northeast BC unemployment rises to 6% in February

11 March, 2019, 10:24 | Author: Billie Castillo
  • 12:53pm
 
ID 96505953

The jobs increase largely reflects higher labor force numbers, rather than falling unemployment, due to rising participation rates and accelerating population growth over the past couple of years. "I think the Bank is pretty much on hold and this shows the economy has some underlying resilience", he said, adding a rate cut was unlikely "any time soon". Canada's economic growth slowed sharply in the fourth quarter of 2018 on plunging Canadian crude export prices.

Calgary's unemployment rate for February is even worse at 7.6 percent, up 0.3 percent from January.

The overall Canadian increase even outpaced job creation in the United States, where figures showed an increase of just 20,000 new positions last month.

For Canada as a whole, the jobless rate stayed at 5.8 per cent, after the addition of 56,000 jobs. The two-month gain is the best start to a year since 1981. The agency said the number of more desirable employee positions in the private sector climbed by 31,800 last month, while public sector jobs rose 8,900. The sector employed 43,400 people in February, according to Statistics Canada, up from 42,500 a month earlier - its sixth consecutive month of gains. In a speech on Thursday, central bank deputy governor Lynn Patterson highlighted Canada's strong employment numbers as one bright spot in a mixed bag of economic data.

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There was little change in the number of people who are self-employed, while employment dropped by 11,000 in transportation and warehousing, mostly in Ontario.

Canada added approximately 67,400 full-time jobs during February but lost 11,600 part-time jobs. The economy added 46,200 services sector jobs, led by professional, scientific and technical services for the third time in four months, along with 9,500 goods producing jobs, led by gains in natural resources. In particular, it focuses on a reading called "wage common", which incorporates payroll data from several sources, not just from the labour force survey. Ontario was the sole province with a notable employment gain.

That's a small increase in the jobless rate from the month before, when it was 8.3 per cent, but down from February a year ago, when it was 8.9 per cent.

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