m3n4.net
m3n4.net March 21, 2019


Ottawa-Gatineau's unemployment rate drops to 5.1% in February

11 March 2019, 10:26 | Vera Richards

By Charles Lefebvre

By Charles Lefebvre

This is the best month for jobs since 2012, and this strong February comes after an even stronger January.

"The ongoing gains in employment suggest that the current soft patch in broader activity is not morphing into something more ominous", BMO chief economist Douglas Porter wrote to investors.

"It was a very good number for Canada, and to be honest, it's a relief because we sort of needed a win on the Canadian data side", Caranci said of the February data in an interview.

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The unemployment rate in Northeast B.C. rose half a percentage point to 6% in February, according to the latest labour force survey. "And so, every time you think that there's no more workers to hire, there's more workers that seem to get hired". Reinforced by both the weak end to 2018 and Bank communication this week, solid job trends over the a year ago have not been translating into consumer spending. It was the third month of outsized job gains in the last four and, for the first time since 2012, total Canadian job gains beat United States employment growth, which nearly stalled in February with just 20,000 jobs created.

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

The report says the addition last month of 67,400 full-time jobs more than offset a loss of 11,600 part-time positions. "That decline was driven by public administration and natural resources, but counterbalanced a bit by increases in accommodation and food services".

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The Bank of Canada's benchmark interest rate is at 1.75 percent. Rounding things out was a 15.1k net increase in self-employment.

Year-over-year average hourly wage growth in February for permanent employees was 2.3 per cent, up from January's reading of 1.8 per cent. In a speech on Thursday, central bank deputy governor Lynn Patterson highlighted Canada's strong employment numbers as one bright spot in a mixed bag of economic data. It was 6.8 per cent in January. For the third consecutive month, Ontario and Quebec drove the overall gains, with little marked movement in the other provinces.

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