Windsor's unemployment rate sees significant drop

Windsor's unemployment rate sees significant drop

Windsor's unemployment rate sees significant drop

Cape Breton's unemployment rate stood at 14.3 per cent in January, up from 14.1 per cent for the same period in 2017, according to job figures released by Statistics Canada on Friday.

Nationally, the unemployment rate increased slightly by 0.1 percentage points to 5.9 per cent in January. Despite the dip, year-over-year, employment grew by 289,000 or 1.6 per cent.

But all the losses last month were in part-time job which decreased by 137,000 while full-time jobs rose by 49,000.

A chart showing unemployment rates by province for January 2018.

Statistics Canada says the number of people employed in the London region (which includes St. Thomas, Strathroy and surrounding municipalities) was only down by about 100.

The labour force participation rate in Canada, also adjusted to USA concepts, was 65.5 per cent in January, compared with 62.7 per cent in the United States.

BoE hints at 'earlier' rate hikes as MPC adopts more hawkish stance
The services, factory and construction sectors all showed weaker-than-expected growth in January, according to surveys. There are signs that Britain's economy is finally working off the hangover of the 2007-09 crisis.

The jobs survey shows Victoria remains among the lowest in the country with only Quebec City at a lower rate.

As well there were 6200 full-time jobs created month-over-month. Thomas unemployment rate ends 2017 at 6.2% . But that was only due to a sharp drop in the labour force which shrank by 55,000.

Ontario recorded the biggest decline last month, down 51,000 - - all part-time.

The province said the gain was led by jobs in the transportation and warehousing industries. While the unemployment rate in December was 8.6 per cent, month-over-month comparisons are hard to make as data is unadjusted for seasonal differences that can influence each month.

"This is still a solid job market, we will have to monitor how the market adjusts to the minimum wage", Brittany Baumann, a macro strategist at TD Securities, said by phone from Toronto.

Related news