Jobless rate rises to 7.6% in January

flovestock

tavia grant
Globe and Mail Update
Published Friday, Feb. 03, 2012 7:07AM EST
Last updated Friday, Feb. 03, 2012 8:45AM EST

The Canadian economy added just 2,300 jobs last month and the unemployment rate hit a nine-month high, more signs the country’s labour market remains tepid.

The country’s jobless rate rose to 7.6 per cent in January from 7.5 per cent a month earlier, Statistics Canada said Friday.

Economists had been expecting 22,000 new jobs in the month, with the unemployment rate staying at 7.5 per cent.

Canada has added 129,000 jobs over the past year, however the bulk of them were in the first six months of that period. Since last summer, job creation has been sluggish and the unemployment rate has ticked higher.

The report “reinforces the point that Canada’s job creation engine is cooling markedly,” said Douglas Porter, deputy chief economist at BMO Nesbitt Burns in a note. “With domestic drivers now gearing down, the job market needs the U.S. economy to gather some serious momentum.”

Full-time jobs fell by 3,600 while part-time positions rose by 5,900. Both the private sector and the public sector added to head count, while self-employment fell.

By sector, the financial, professional and technical services shed 44,800 jobs. The finance, insurance and real estate sector continued its employment declines.

Employment grew in educational services, along with information, culture and recreation.

Once again, employment rose among women aged 55 and over. Youth are having a tougher time – employment among those aged 15 to 24 fell for the fourth month in a row. Youth employment is 31,000 below its level of January, 2011, and the jobless rate jumped to 14.5 per cent last month from 14.1 per cent.

By province, employment in Quebec edged up, reversing a steep tumble in the fourth quarter of last year. Employment fell in Prince Edward Island and was little changed elsewhere.

福多多

加国股市比较老实。

George25

It's going to start consolidation next week? Rise too much, too long too quick since last Dec.