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Northeast BC unemployment rate below four per cent in January 2018

10 February 2018, 06:45 | Melanie Burgess

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The Globe and Mail

Statistics Canada says the month-over-month unemployment rate has dropped in Kamloops.

The province lost around 5,100 part-time positions but added 6,200 full-time positions.

At the same time the labour pool rose to 200,600 people last month compared with 196,800 in January 2017.

It's the second straight month of job losses in the Greater Sudbury area.

The 88,000 job decrease fell well short of economists' forecasts for a gain of 10,000 and was the biggest decline since January 2009 when the economy was dealing with the global financial crisis, Statistics Canada said on Friday.

The unemployment rate for Nova Scotia in January was 8.2 per cent, up 0.2 per cent from December.

Nationally, the unemployment rate increased slightly by 0.1 percentage points to 5.9 per cent in January. "Overall, a mysterious mix of good and bad, with the latter's impact blunted by how strong job gains were in the lead-up to these figures", CIBC chief economist Avery Shenfeld wrote in a commentary.

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However, economists also pointed to possible connections between Ontario's minimum wage and Canada's stronger average wage growth of 3.3 per cent in January.

In the United States, there was a increase of 200,000 jobs in January and the unemployment rates was unchanged at 4.1 per cent.

Ontario had the biggest jobs decline among the provinces, shedding 50,900 positions on a drop in part-time work. The current stock market rout, for instance, began last Friday after U.S.jobs data showed wages there growing more than anticipated, raising worries that creeping signs of higher inflation might push the U.S. Federal Reserve to increase interest rates more quickly than expected.

"Ontario lost 40 per cent of the part-time jobs in Canada".

That marked the steepest monthly decline in nine years and followed a year of torrid job creation. "The unemployment rate is still low with the economy remaining close to full employment". 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.

"We also need to watch to see if our community is affected by the loss of part-time work like elsewhere in Ontario".

With files from Canadian Press. He said it reinforces the view that the Bank of Canada will proceed "ultra-cautiously" through the rest of 2018.



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