Canada jobs increased by 60,000 in February 2019

60,000 Canada jobs were added in the month of February 2019. The rate of unemployment remained at 5.8% even as the labour market engagement of workers increased. The participation of labour force increased to 65.8% by 0.2p.p.

 

The assortment of Canada jobs was good, generally. Full-time jobs were the driving factor for the growth with +67.4K. The part-time jobs meanwhile decreased by 11.6K.

 

The private sector led the way when it comes to the addition of full-time Canada jobs with a net addition of 31.8K roles. The Public sector meanwhile added 8.8K positions. The net increase in self-employment was rounded at 15.1K.

 

The bulk of the gains were enjoyed by the youth in Canada in the age range of 15 to 25 years. They added 28.6K net jobs that reduced their rate of unemployment to 10.8% down by 0.4p.p.

 

The net gains of jobs in Canada were chiefly due to the Services sector with the 46.2K increase. It was led by notable gains by the Professional Services sector with the addition of 18.3K jobs. This was followed by the Wholesale/Retail Trade sector with 12.1K addition of jobs.

 

For the third consecutive month, the overall gains of jobs in Canada were driven by Ontario and Quebec. This was with the addition of 36.9K and 14.9K jobs respectively, as quoted by the Economics TD.

 

The salaries in Canada again accelerated with an increase of 2.2% for full-time jobs. The latest report has largely positive details that it highlights. This is excluding one aspect that aggregate hours decreased for a 3rd consecutive month. It was down by 0.7% on a month-on-month basis.

 

The latest positive gains in the Canada Job Market have set the pace of trend at 48.3K monthly. This is the strongest after 2002. The year-on-year pace of gains in February was also solid at 2%.

 

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