Canada Jobless Rate Declines to Lowest in Over 40 Years

The unemployment rate in Canada fell to 5.7 percent in December of 2017 from 5.9 percent in November and well below market consensus of 6 percent. It is the lowest jobless rate since comparable data became available in January 1976, as the economy added 79,000 jobs. Employment gains were concentrated in part-time work (54.9 thousand) while 23.7 thousand full-time jobs were added.

In December, employment increased for men and women aged 25 to 54 as well as for people aged 55 and over. There was little overall change for youth aged 15 to 24.

The largest employment gains in December were observed in Quebec and Alberta, while there were smaller increases in Nova Scotia, Saskatchewan, New Brunswick and Prince Edward Island.

There were more people working in the services-producing sector, led by finance, insurance, real estate, rental and leasing (up 25 thousand). Employment also increased in "other services" (up 13 thousand), educational services (up 11 thousand), and transportation and warehousing (up 9.5 thousand). In the goods-producing sector, there were more people employed in natural resources (up 5.8 thousand) and construction (up 6.5 thousand) while manufacturing cut jobs (down 3.6 thousand).

The number of self-employed workers increased by 28 thousand in December. At the same time, public sector employment rose by 22 thousand, while the number of private sector employees was stable.

Canada Jobless Rate Declines to Lowest in Over 40 Years

Statistics Canada | Luisa Carvalho |
1/5/2018 2:27:27 PM