Canada jobless rate rises despite surge in employment

Canada jobless rate rises despite surge in employment

Canada jobless rate rises despite surge in employment

The Canadian dollar jumped more than a quarter of a cent in the moments after Statistics Canada announced the jobs numbers.

"In January, the number of employees increased by 112,000 in the private sector, while it was little changed in the public sector for the third consecutive month".

The unemployment rate dropped to 8.2 per cent in January from 8.4 per cent in December.

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Across Canada, an estimated 67,000 more people were working, but a larger influx of job seekers pushed the monthly unemployment rate slightly to 5.8 per cent. The number of self-employed positions, which can include unpaid work, declined by 60,700. One year ago, the region's unemployment rate was 6.6 per cent.

The data ended a downward slide in unemployment in the Wood Buffalo-Cold Lake region, after unemployment began dropping from last June's high of 6.5 per cent. "On a trend-cycle basis, self-employment has levelled off in recent months", said StatsCan.

"The wild ride continues for Canadian employment readings". 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.

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"There had been some risk going into the report that a big print was coming, given that the survey had lagged the job gains seen in the more reliable payrolls report over the past year". For last month, the rate was at 7.8%, an increase of 0.8% from December.

"As demonstrated in the newest results, higher wages, low unemployment and good jobs in British Columbia show that people are at the centre of our strong and stable economy".

Mendes predicted that first quarter economic growth is still likely to be "somewhat weak" due to struggles getting oil to new markets due to regulatory delays in building new pipelines.

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