Statistics
Canada reported on Friday that the number of employed people increased by 40,700
m-o-m in February (or +0.2 per cent m-o-m)
after an unrevised gain of 37,300 m-o-m in the previous month. This marked the strongest advance in Canada’s
employment in five months.
Economists had forecast
a rise of 20,000 m-o-m.
Meanwhile,
Canada's unemployment rate edged up to 5.8 per cent in February from an unrevised
5.7 per cent in the previous
month, in line with economists’ predictions.
According to
the report, full-time employment climbed by 70,600 (or +0.4 per cent m-o-m) in February, while part-time jobs declined
by 29,900 (or -0.8 per cent m-o-m).
Over the month,
the number of public sector employees jumped by 18,800 (or +0.4 per cent m-o-m), while the number of
private sector employees decreased by 16,400 (or -0.1 per cent m-o-m). At the same time, the number of self-employed surged by 38,300
(or +1.5 per cent m-o-m).
Sector-wise,
employment fell in the goods-producing industry (-6,300, or -0.2 per cent
m-o-m) but increased in the services-producing business (+46,900, or +0.3 per
cent m-o-m).
The average hourly wages soared 4.9 per cent
y-o-y (or +CAD1.67) to CAD35.54 in February, slowing from
a 5.3 per cent y-o-y gain in January.