Published: Пн, Марта 11, 2019
Finance | By Kristine Clayton

New Brunswick unemployment rate rises slightly in February

New Brunswick unemployment rate rises slightly in February

Employment in Canada rose by approximately 55,900 in February from January as an increase in full-time employment offset a decrease in part-time jobs, according to seasonally adjusted numbers released today by Statistics Canada. "And so, every time you think that there's no more workers to hire, there's more workers that seem to get hired".

Statistics Canada also reported that participation by women in the workforce was up.

That's up from 4.8 per cent in January but down from the 5.3 per cent the rate was at the same time a year ago.

The Canadian increase even outpaced job creation in the United States, where figures showed an increase of just 20,000 new positions last month. Canada's jobless rate was unchanged at 5.8 percent, even with the employment gains, because more people were looking for work.

Combined with the 67,000 jobs added in January, the February data marks the best two-month stretch since 2012.

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More young Canadians, between the ages of 15 and 24 years old, found work last month as youth employment gained 28,600 positions. The economy added 46,200 services sector jobs, led by professional, scientific and technical services for the third time in four months, along with 9,500 goods producing jobs, led by gains in natural resources.

The Bank of Canada's benchmark interest rate is at 1.75 percent.

Wages accelerated again, rising 2.2% for permanent employees (January: + 1.8%). In particular, it focuses on a reading called "wage common", which incorporates payroll data from several sources, not just from the labour force survey.

The employment gains in recent months come amid an otherwise dismal performance for the economy recently, amid stresses in the oil sector, weakening housing markets, volatility in global financial markets and waning consumer and business confidence.

"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". Over the past year, employment in the industry has grown by 6.8 per cent.

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