Canadian economy adds 35200 jobs in December

14 Janvier, 2020, 15:39 | Auteur: Auguste Feret
  • Canadian economy adds 35200 jobs in December

The big picture: The U.S. economy has added jobs for 10 years, the longest stretch of hiring "in 80 years of data", according to the Wall Street Journal. The data shows manufacturing continued to shed jobs, losing around 10,000 positions in December. The U-3 unemployment rate was unchanged at 3.5%. That was a 21% reduction from the 2.68 million in 2018 and placed 2019 eighth in the last decade for employment growth.

Irina Novoselsky, CEO of the jobs site CareerBuilder, said that more employers are offering non-wage benefits such as the chance to work remotely to potential workers and becoming less focused on educational credentials when hiring. Nationally, the rate was 5.6 per cent, down 0.3 points with a net gain of 35,000 jobs.

Windsor's unemployment rate increased to 7.5 per cent in December 2019, representing a 0.5 per cent increased compared to November 2019.

The labor department said that hourly wages in December increased by 3 cents to an average of $ 28.32. Notable job gains occurred in retail trade and health care, while mining lost jobs.

Friday's report also showed that American women held more jobs than men in December for the first time in almost a decade.

According to the research organization's latest projections, the London economy will grow at a pace of 1.9 per cent in 2020 and 2021, Heschl said.

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US construction's monthly average jobs increase in 2019 was +13,000, which was only half of the sector's 2018 performance of +26,000. And low US unemployment is still stunning.

Among the major worker groups, the unemployment rates for adult men (3.1%), adult women (3.2%), teenagers (12.6%), Whites (3.2%), Blacks (5.9%), Asians (2.5%), and Hispanics (4.2%) showed little or no change in December.

The labor participation rate held steady at 63.2 percent.

Weak wage growth could in part reflect a calendar quirk.

"The 35K jobs gain was all in full-time private sector paid jobs, and the 5.6% unemployment rate (vs 5.9% the prior month) is not quite back to its lows but is in the range considered to be full employment". This December the 12th of the month, the date on which the wage survey is based, and the 15th, a common payday, didn't fall in the same week - something that often leads to artificially depressed wage growth calculations.

TD Bank senior economist Brian DePratto said the jobs report Friday was consistent with recent comments by Bank of Canada governor Stephen Poloz. Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.

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