Canadian job numbers soar in February

Best start to the year since 1981 – and way better than in the U.S. - although total hours worked fell 0.7% month on month

Ruth Saldanha 8 March, 2019 | 6:00PM

Despite all the negative news around the economy, and signs of slowing growth, Canada’s job numbers soared for the second month straight, adding credence to our belief that we aren’t headed for a recession in the immediate future.

Statistics Canada today said that employment grew for a second consecutive month, up 56,000 in February, driven by gains in full-time work, while the unemployment rate was unchanged at 5.8%. In January, the economy added 66,800 jobs. This is the best start to a year since 1981.

“Somebody forgot to tell the Canadian job market that a slowdown is going on”, said BMO Financial Group’s chief economist Douglas Porter pointing out in a note that with the labour force jumping by 380,000 over the past year, this means it takes monthly job gains of nearly 32,000 to keep unemployment from rising --- so the bar for this report has risen accordingly. Even with a 2% jump in employment in the past year, the unemployment rate is precisely unchanged from a year ago, he said.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

About Author

Ruth Saldanha

Ruth Saldanha  Ruth Saldanha is Senior Editor at Morningstar.ca

© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies