Published: Mon, March 11, 2019
Business | By Eloise Houston

'Ka-boom': Canadian economy pumps out 56,000 new jobs

'Ka-boom': Canadian economy pumps out 56,000 new jobs

"And so, every time you think that there's no more workers to hire, there's more workers that seem to get hired".

Employment increased by 55,900 in February, all full-time jobs, Statistics Canada said Friday in Ottawa, building on a 66,800 gain in January. Canada even beat the disappointing U.S. February tally of 20,000 - for the first month in more than 8 years. Analysts had forecast February job numbers to be flat in Canada.

The report by Statistics Canada also shined a spotlight on the participation rate of women in the workforce. The unemployment rate held firm last month at 5.8 per cent as more people hunted for work. Reinforced by both the weak end to 2018 and Bank communication this week, solid job trends over the previous year have not been translating into consumer spending.

By region, Ontario saw the biggest employment increase last month with the addition of 36,900 jobs.

More young Canadians, between the ages of 15 and 24 years old, found work last month as youth employment gained 28,600 positions.

Job growth in professional, scientific and technical services led employment growth, up by 18,000 jobs in February and increasing notably for the third time in four months. It's a key reason why the Bank of Canada is sticking to its belief the economy will rebound and interest rates will likely head higher.

Wages accelerated again, rising 2.2% for permanent employees (January: + 1.8%). 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.

In addition, the Ontario Government said in a release that Kitchener-Waterloo-Barrie has the largest employment growth year-over-year across the province at seven per cent growth.

That's a small increase in the jobless rate from the month before, when it was 8.3 per cent, but down from February a year ago, when it was 8.9 per cent.

According to BC Stats, the province saw job gains in fishing, mining, quarrying, oil and gas, up 2,500 jobs, and in retail and wholesale trade, up 3,500 jobs.

Like this: