9300 jobs added in December, StatsCan says

06 Janvier, 2019, 23:11 | Auteur: Auguste Feret

Employment growth in 2018 was concentrated in the services sectors, which generated 151,000 positions compared to an increase of just 12,300 in goods-producing industries.

"Employment held steady in December", Statistics Canada said in a statement.

"Over the course of the year, the unemployment rate fell 0.2 percentage points to 5.6 per cent - the lowest rate since comparable data became available in January 1976".

In Prince Albert and Northern Saskatchewan, which includes numbers for our region, the job front remained relatively unchanged year-over-year, with the unemployment rate sliding up incrementally from 7 per cent in December 2017 to 7.3 per cent last month.

Stats Can reports the jobless rate stayed at 5.6 per cent in December after dropping down the previous month. On the other hand, employment dropped in wholesale and retail trade; information, culture and recreation; manufacturing; and finance, insurance, real estate, rental and leasing.

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Statistics Canada says gains in part-time work were outweighed by the loss of full-time jobs in Alberta, while in Saskatchewan job growth was led by agriculture.

Even with the increase in the unemployment rate, the number of people working in the region increased to 40,300.

Private sector employees also increased by 101,000 in 2018 and self-employment rose, while public sector employment saw little change. Instead, its sharp deceleration since the middle of a year ago is viewed as a good reason for the Bank of Canada to wait a little longer before hiking interest rates.

The Bank of Canada has been monitoring wage growth ahead of its rate decisions as it tries to determine how well indebted households can absorb higher borrowing costs.

With files from The Canadian Press.

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