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Canada sheds 88000 jobs in January, biggest decline since 2009

Canada sheds 88000 jobs in January, biggest decline since 2009

To partially offset the declines, Statistics Canada said the economy added 49,000 full-time positions last month.

The largest decline in jobs came out of Ontario and Quebec.

Ontario's unemployment rate was 5.5 per cent in January.

The wage improvements in January arrived the same month that saw Ontario take the controversial step of raising its minimum wage.

While the unemployment rate increased to 5.9 per cent in January, it's still near its record low of 5.8 per cent and the faster wage gains may give policy makers at the Bank of Canada more fodder to worry about inflation.

Despite Canada's healthy economic performance previous year, Alexander said the surprising pace of job creation had been stronger than the other data. "But the details also looking wonky, with all of the job losses in part-time work". "But Ontario employs 40 per cent of Canadians", she said.

"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.

It triggered a backlash among much of the business community, which is dealing with rising interest rates, stricter mortgage rules and uncertain trade relations with the United States and Mexico.

Nationally, 2018 got off to a bad start as the Canadian economy lost 88,000 jobs and the jobless rate rose from 5.8 per cent to 5.9 per cent.

Statistics Canada cautions against month-to-month comparisons of the Medicine Hat unemployment rate, due to the small sample size.

The higher minimum rate could have underpinned Canada's stronger wage growth.

But the labor force grew by 1,400 which pushed up the unemployment rate.

The jobless figure fell by more than half a per cent in Quebec City to 3.3 per cent. Compared with the year before, average hourly wages for permanent employees expanded 3.3 per cent.

Overall, the latest labour market data "bring the job market back down to Earth, and reinforces the view that the Bank of Canada will proceed ultra-cautiously through the rest of this year", Porter wrote.

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