Canada Unemployment Rate Above Forecasts

The unemployment rate in Canada rose to 5.8 percent in January of 2019 from 5.6 percent in the previous month and above market expectations of 5.7 percent. The economy added 66.8 thousand jobs in January, after creating 9.3 thousand in December and compared with market consensus of 8 thousand. Part-time employment advanced 36 thousand and full-time employment rose 30.9 thousand.
Statistics Canada | Agna Gabriel | 2/8/2019 1:48:41 PM
In January, employment rose in six provinces, led by Ontario (+41,000) and Quebec (+16,000), while it fell in Alberta (-16,000) and Saskatchewan (-2,800). Little changes were observed in British Columbia and Prince Edward Island. 

Compared with December, employment advanced in wholesale and retail trade (+34,000); professional, scientific and technical services (+29,000) and public administration (+21,000). At the same time, fewer people worked in accommodation and food services (-15,000). 

In January, the number of employees increased by 112,000 in the private sector, while it was little changed in the public sector for the third consecutive month. At the same time, the number of self-employed declined by 61,000.

In January, employment among people aged 55 years and older was little changed, as an increase among men (+28,000) was partially offset by a decline among women (-18,000). The unemployment rate was little changed for both older women (4.7%) and older men (5.5%). Meanwhile, the number of employed youth aged 15 to 24 was up 53,000 in January.

The labour force participation rate went up to 65.6 percent in January from 65.4 percent in December.

Canada Unemployment Rate Above Forecasts