Canada shed 88000 jobs in January

10 February, 2018, 11:07 | Author: Dave Hampton
  • 12:00pm


The nation’s economy shed the most jobs since 2009 in January following two months

On the flip side, Statistics Canada reported the Canadian economy generated 49,000 full-time positions last month.

"This is a big number on the surface, but so were the gains over the previous several months", Marple wrote in a research note.

Rocco Rossi, president of the Ontario Chamber of Commerce, said the numbers "reflect the concerns we have heard from businesses for months".

Despite Canada's healthy economic performance past year, Alexander said the surprising pace of job creation had been stronger than the other data. "However, it does bring the job market back down to Earth", said Porter in online release.

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"The June quarter survey showed zero employment growth and a drop in the participation rate, followed by a surge in both measures in the September quarter", he said. Poloz has repeatedly said future rate decisions will be highly data dependent. Others didn't expect the January report, on its own, to have a significant impact on the outcome of the next rate announcement. He said it reinforces the view that the Bank of Canada will proceed "ultra-cautiously" through the rest of 2018.

Ontario, which increased its minimum wage in January, was the biggest loser in January, shedding 50,900 jobs in the month. Pay started to increase late summer and accelerated to as high as 2.8 per cent in November.

In Ontario the jobless rate fell to 5.5 per cent from 5.6 per cent in December. In January 2017, there were 21,000 people employed in the city, up from the current 20,600.

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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"Kathleen Wynne was warned by experts that her overnight minimum wage hike would put our most vulnerable people out of work", Ontario PC economic development critic Monte McNaughton said in a statement.

The largest employment declines were in Ontario and Quebec.

Most analysts cautiously highlighted the potential connection.

The job market is coming off its strongest pace of growth since 2002 after creating more than 400,000 jobs in 2017.

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Employment in Ontario declined by 51,000 in January, entirely due to losses in part-time work.

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