Stats Canada reports January unemployment rise in Victoria, Nanaimo and Canada

Posted February 11, 2018

Ontario shed 59,300 part-time jobs in January as the province implemented a $2.40 cent minimum wage hike at the start of the month.

Statistics Canada says the unemployment rate in January was 4.6 per cent, compared to 6.0 in December.

The province was able to make gains in full-time employment, adding 4,100 jobs.

Despite Canada's healthy economic performance a year ago, Alexander said the surprising pace of job creation had been stronger than the other data.

The business building and other services sector reported a loss of 4,900 jobs in the previous year.

The unemployment rate for Nova Scotia in January was 8.2 per cent, up 0.2 per cent from December.

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Nationally, Statistics Canada reported 88,000 thousand jobs - all of them part time- were lost in January, pushing the unemployment rate for the country up to 5.9 per cent., up from 5.7 per cent last month. Ontario lost 51,000 jobs in January, entirely due to losses in part-time work.

To partially offset the declines, Statistics Canada said the economy added 49,000 full-time positions last month. Overall, compared with January 2017, employment in the province grew by 104,000.

The Northeast had the lowest unemployment in B.C. last month. The province said the gain was led by jobs in the transportation and warehousing industries.

By region, the agency said Ontario and Quebec saw the biggest decreases last month, while New Brunswick and Manitoba also had net losses.

Just 1,500 were unemployed. The Canadian dollar traded lower, dipping by 0.07 of a cent at 79.23 cents U.S. Economists are hoping the news will reduce pressure on the Bank of Canada to raise interest rates. He said it reinforces the view that the Bank of Canada will proceed "ultra-cautiously" through the rest of 2018.

"At the very least, we can dismiss any chance the bank hikes in March, and April is now looking more like a long shot as well", he said.

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