Published: Sat, January 06, 2018
Global | By Shelia Dennis

Employment growth continues across Canada, mixed in PA

Employment growth continues across Canada, mixed in PA

The jobless rate fell to 5.7 percent in December, Statistics Canada said Friday in Ottawa, the lowest in the current data series that begins in 1976.

The region's unemployment-which is not broken down by municipality-is good for the second-lowest in B.C. for the month, behind the southwest Lower Mainland, which recorded an unemployment rate of 3.8 per cent.

The economy added more than 422,000 jobs in 2017, with the gains driven by over 394,000 new full-time positions.

The Canadian economy added a net 78,600 jobs in December on a seasonally adjusted basis, Statistics Canada said Friday, which almost matched the previous month's employment gain of 79,500.

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The agency said the increase was due to more people searching for work, with the number of people in the labour force increasing by 8,100 to 607,200.

The December rate is over a point lower from the same time period in 2016 when it was 5.8%.

Still, Kavcic remains a little bit hesitant to predict that a rate increase at the January 17 policy meeting is a sure thing.

The Canadian dollar is likely to weaken over the coming months, a Reuters poll showed, as the Bank of Canada falls further behind the Federal Reserve on interest rate hikes due to an uncertain outlook for NAFTA and tighter domestic mortgage rules. "We think that they'll wait and see what the outcome is of some of the trade talks".

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Several analysts said Friday's solid labour report might be enough to encourage Bank of Canada governor Stephen Poloz to introduce another interest-rate hike later this month.

The unemployment rate dropped in Regina by 0.1 percentage to 4.7 per cent while the rate held steady in Saskatoon at 7.6 per cent.

"The Canadian data flow rung in the New Year with panache, with the jobs report for December stacking on another spectacular gain".

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