Saturday, 23 March, 2019


Unemployment rate nationally unchanged, B.C. leads all provinces - again

11:14am
 
Image Credit The Canadian Press 11:14am Image Credit The Canadian Press
Conrad Doyle | 11 March, 2019, 10:39

Statistics Canada reports 56,000 new jobs were created last month, with a majority in full-time work.

"Almost all the new jobs came in Ontario, which added 59,000 full-time positions".

The February surge follows a gain of 66,800 positions in January to give Canada its strongest two-month stretch of job creation since the spring of 2012 - and its best two-month start to a year since 1981, when Pierre Trudeau headed the government.

Compared to one year ago, Alberta's unemployment rate was 6.7 per cent. "And so, every time you think that there's no more workers to hire, there's more workers that seem to get hired".

The nation as a whole added 55,900 jobs while the unemployment rate remained static at 5.8 per cent as more people entered the workforce.

Overall, the employment increase was led by a gain of 46,200 positions in the services sector, largely concentrated in the categories of professional, scientific and technical services, public administration and wholesale and retail trade. Strong full-time gains, mostly in the province of Ontario, offset a loss in part-time roles, with 67,400 full-time jobs added from January to February, and 11,600 part-time jobs shed. Annual average hourly gains accelerated to 2.3 percent in February from 2 percent a month earlier, with pay for permanent employees up 2.2 percent, from 1.8 percent previously. In particular, the central bank focuses on a reading called "wage common", which incorporates payroll data from several sources, not just from the labour force survey.

A second consecutive month of bumper job gains quelled concerns that Canada's economy could be headed for a recession and cooled market expectations that the Bank of Canada could cut interest rates by the end of the year. The recent strength of labor market gains sent the trend rate to 48.3k per month, the strongest it has been since 2002.

Is there any ceiling for job growth in B.C.?

Within the province, the highest unemployment rate in February was 16.5 per cent, in the region that includes Campbellton and Miramichi.

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