StatCan offers new insight into the state of the Canadian economy
Canada lost another 84,000 jobs in February with the employment rate falling 0.2 per cent to 60.6 per cent, unemployment rose by the same amount to 6.7 per cent. This follows a decline of 25,000 jobs in January.
A poll of economists conducted by Reuters before the announcement predicted a jobs increase of 10,000 as well as an increase in the unemployment rate.
Youth and men at core working ages bore the brunt of the job losses, with declines of 47,000 and 41,000 jobs respectively for those groups. Core aged women and all people over 55 saw little change in their employment.
The number of people working full-time dropped by 108,000 and the number of employees in the private sector fell by 73,000 in February. Both of those categories had gained in recent months.
Wholesale and retail trade lost the largest share of jobs, but manufacturing and construction along with other goods-producing sectors also saw job declines.
Quebec was the biggest loser provincially, dropping 57,000 jobs, followed by B.C. which lost 20,000. Newfoundland and Labrador was the only province to gain jobs, adding 2,100.
Hourly wages were up 3.9 per cent in February to $37.56 on a year-over-year basis.
