Canada gained 56000 jobs in February, unemployment rate unchanged
10:29, Mar 11, 2019
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"To support economic growth in B.C. over the long term, our government is making historic investments in this year's balanced budget to create more opportunities for people". In an economy with more than half a million vacant jobs, many seem to be finding work.
Only Red Deer at 4.7 per cent had a lower unemployment rate among this province's regions.
Canada's employment gains were even stronger than those south of the border. Rounding things out was a 15.1k net increase in self-employment. Canada's economic growth slowed sharply in the fourth quarter of 2018 on plunging Canadian crude export prices.
The unemployment rate in Northeast B.C. saw an increase last month of 0.5 percent, up to 6.0 percent when compared to January's rate of 5.5 percent. Reinforced by both the weak end to 2018 and Bank communication this week, seemingly solid job trends over the past year or so have not been translating into consumer spending.
The Canadian increase even outpaced job creation in the United States, where figures showed an increase of just 20,000 new positions last month.
More people were also employed in public administration; natural resources; and agriculture in February.
Alberta's employment level was mostly unchanged from January and last February, but the agency says the number of people looking for work has increased, pushing the provincial unemployment rate up to 7.3 percent.
Part-time job losses of 11,600 were offset by an increase of 67,400 full-time jobs.
The Bank of Canada keeps close watch of several wage indicators ahead of policy decisions on its key interest rate.
Wages accelerated to 2.2 percent for permanent employees. In particular, it focuses on a reading called "wage common", which incorporates payroll data from several sources, not just from the labour force survey.
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. For the third consecutive month, Ontario and Quebec drove the overall gains, with little marked movement in the other provinces.
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