Only during the last month, the Canadian economy added more than 15,300! This number is far higher than economists’ consensus forecast of a net gain of 2,500 positions.
On the other hand, the unemployment rate dropped to 6.7 percent. This is the lowest level since back in January 2015. According to the Statistics Canada, all of the gains came from full-time positions. They said that an estimated 105,000 more people found full-time employment last month while part-time positions dropped by almost 90,000.
Fewer Canadians looking for jobs…
This report is truly one more piece of evidence that the Canadian economy has turned the corner in the right way! Statistics Canada also added that the unemployment rate fell by almost 0.2 of a percentage point from 6.8 per cent in January, 2017. These percentages indicate both job creation and fewer Canadians looking for jobs.
The strongest growth was seen by British Columbia province. More than 19,400 new full-time jobs were added. BC is followed by Ontario, Alberta, Saskatchewan and Manitoba which saw modest increases, with Ontario’s jobless rate dipping from 6.5 per cent to 6.1 per cent.
The lowest performances were from Quebec and Nova Scotia, shedding 11,100 and 6,800 jobs respectively. Quebec’s unemployment rate rose from 6.1 per cent to 6.5 per cent.
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