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Canada Job Losses Mount

Canada Job Losses MountCanada Job Losses Mount

Canada’s job market unexpectedly went into reverse last month. Almost 6,000 jobs were lost–and the country’s energy heartland was hit hardest. Alberta’s economy shed 10,000 jobs in January, helping nudge up the province’s unemployment rate to 7.4%–the highest since February 1996.

And it wasn’t alone, job losses were widespread across the country, with only Ontario posting a substantial gain, BNN reported.

Statistics Canada’s latest labor force survey says the national unemployment rate still crept up to 7.2% from 7.1%, as more people entered the job market.

It says there were 5,700 fewer jobs recorded but the number was within the survey’s margin of error and not statistically significant.

The report found a nationwide net increase in the services industry only partially made up for a drop in employment in the goods-producing sector.

The survey says the oil-producing provinces of Alberta and Newfoundland were among the hardest hit as their job losses climbed amid the severe oil-price slump.

The agency says Alberta suffered a net decline of 21,900 full-time positions in January, with the bulk of the decrease concentrated in agriculture and manufacturing. The drop was offset in part by an increase in part-time work.

The report says Newfoundland showed a net decrease of 2,400 jobs last month–knocking employment down 3.1% compared to the year before.

The agency says Ontario was the only province to show significant growth last month as it added 19,800 net positions, including 16,300 full-time jobs. Compared to a year earlier, Ontario showed a net gain of 10,200 jobs, an increase of 1.5%.

Financialtribune.com