undergroundnewsroom.com March 23, 2018

Sudbury sheds more jobs in January: Statscan

10 February 2018, 06:41 | Gordon Grant

A man works at the Brose Canada plant in London Ont on Thursday Feb. 27 2014

A worker in Ontario

The unemployment rate rose to 5.9 percent from December's revised 5.8 percent. The jobs report can also be volatile month-to-month.

While many part-time jobs were lost, full-time employment grew by 49,000 jobs result in a net loss of 88,000 jobs, figures provided by Statistics Canada say.

The unemployment rate for Nova Scotia in January was 8.2 per cent, up 0.2 per cent from December. A strong labour market, like the one Canada has seen in recent months, generally invites more people to rejoin the labour force and apply for jobs.

In a labour force of 39,200, this region saw 37,700 people employed in January - while 1,500 were unemployed. She cited the full-time job gain, faster wages and a low unemployment rate as signs of a resilient labor market. Ontario lost 51,000 jobs in January, entirely due to losses in part-time work. Halifax had an unemployment rate of 6.8 per cent in January, down from seven per cent in December.

The Dow ended with a 330.44 point or 1.38 per cent gain to 24,190.90, in the wake of Thursday's session that ended with a steep drop marking a 10 per cent decline from the market's peak in January. By comparison, the number of people who identified as self-employed workers - often seen as a less desirable category that includes unpaid work in a family business - increased last month by 23,900.

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BMO chief economist Douglas Porter also cautioned against "drawing a straight line from the [wage] hike to one month's job move", noting in a research note that harsh weather in January appeared to have hit employment in the province's construction sector (down 14,900 jobs) and transportation industry (down 5,900 jobs).

There were also decreases in New Brunswick and Manitoba, the agency said. That was enough to hike the unemployment rate to 5.9%. The Canadian dollar traded lower, dipping by 0.07 of a cent at 79.23 cents U.S. Economists are hoping the news will reduce pressure on the Bank of Canada to raise interest rates.

"One of the positives in today's release was the fact that wage growth picked up", said Craig Alexander, chief economist at the Conference Board of Canada.

The report is a long-waited correction in a tightening labor market that is more consistent with an economy that has been slowing down since the second half of a year ago. "At the very least, we can dismiss any chance the bank hikes in March, and April is now looking more like a long shot as well", he said.

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