Economy

Medicine Hat's unemployment rate hit 7.7 per cent in January

Medicine Hat's unemployment rate hit 7.7 per cent in January

The unemployment rate ticked up by 0.2 percentage points as more people looked for work.

The biggest boost came from the number of private-sector employee positions, which climbed by 111,500 in January for the category's biggest month-to-month increase since the agency started collecting the data point in 1976.

"We're working hard to nurture a sustainable economy that works for people".

Canada adds 67K new jobs in January, but unemployment rate rises to 5.8% .

The sector covering food services and accomodations saw the biggest gains from December to January, with 600 jobs added.

In a note to clients Friday, CIBC Chief Economist Royce Mendes wrote the latest job readings were "a auto stuck on one of Canada's clogged highways: speeding up then slowing down just to speed back up again".

The latest labour force statistics have been released.

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(StatsCan warns with unadjusted data, one can not make month-to-month comparisons since different seasonal factors influence each month).

In a comparison to last January most regions saw their unemployment rate decline.

The economy shed 32,300 goods sector positions, mostly in agriculture and construction.

"Following a quieter month in December", when the economy generated only 9,300 new jobs, January's figures "blew past expectations" commented Royce Mendes of CIBC Economics, for a modest gain of 5,000 to 6,000 jobs. Many analysts expect governor Stephen Poloz to wait until much later in 2019 before making a move.

The numbers Friday also showed that, year-over-year, the number of employee hours worked were up 1.2 per cent compared to 0.9 per cent in December.

Provincially, B.C. continued to have the lowest unemployment rate in the country for the 17th month in a row in January, at 4.7 per cent while nationally, Canada's unemployment rate was 5.8 per cent.

"Volatility returned with a notable increase in employment during the month of January", he wrote.


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