Canadian Economy Adds Jobs in February, but Full-Time Positions Shrink

Canadian Economy Adds Jobs in February, but Full-Time Positions Shrink

For the province, the unemployment rate was 5.6 per cent in February.

The jobless rate stood at 6.2 per cent in December. St. John's had the highest rate with 8.5 per cent, followed by Calgary with 7.9 per cent.

London's jobless rate was 5.9%, down from 6% posted a month ago.

Advertisment Canada's job market added about 15,000 jobs in February, less than expected but enough to nudge the unemployment rate down one-10th of a percentage point to 5.8%.

But although the Bank of Canada's monetary policy is guided by data such as jobs and wage inflation, the labour force survey numbers will likely be heavily discounted.

Edmonton's unemployment rate dropped slightly last month, according to Statistics Canada's latest labour force survey released Friday.

Ontario's wages have been climbing steadily since last summer, with the average hourly rate expanding by 3.5 per cent over February of previous year.

By industry, the goods-producing sector shed 10,400 positions last month, led by a decline of 16,500 jobs in manufacturing, while the services industries added 25,900 jobs. Porter, who believes a year of data is needed to get a proper reading on the impact of the minimum wage. Average hourly wages for permanent employees rose by 3.1 percent from last February, down from the 3.3 percent year-over-year increase in January. The Bank of Canada kept its trend-setting rate at 1.25 per cent on Wednesday after introducing three hikes since last summer.

Analysts in a Reuters poll had forecast employment would increase by 20,000 after Canada shed 88,000 positions in January, the most in nine years.

The province gained a total of 2,300 jobs compared to last month.

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