Published: Sat, March 10, 2018
Health Care | By Oscar Goodwin

London jobless rate rises amid labour force surge

London jobless rate rises amid labour force surge

The jobless rate in Victoria was 3.4 per cent in December.

The February numbers nudged the unemployment rate down to 5.8 per cent from 5.9 per cent in January.

Canada's jobless rate fell to 5.8 per cent in February and wages in British Columbia and Ontario accelerated.

The Agency Statistics Canada reported Friday that the health and social aid increased the number of jobs, while the sectors of wholesale and retail trade the number of vacancies has reduced.

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Canada's labor market eked out 15,400 new jobs in February but continued to struggle as the number of full-time jobs contracted by almost 40,000, according to a government report released Friday.

For February, the report also found that average hourly wage growth, which is under close watch by the Bank of Canada ahead of interest-rate decisions, stayed solid at 3.1 per cent.

Another worrying sign for the Canadian economy is that job growth was concentrated in lower-paying service occupations, which added 25,900 jobs.

Cooper said the February reading won't set off inflation warnings for the Bank of Canada, which noted this week that wage growth is still below what it considers a normal level for an economy without labour market slack. Although there was a loss of full-time jobs last month, over the year full-time employment has increased by 1.9 per cent. The country lost 39,000 full-time positions and generated 54,700 part-time jobs, according to the report.

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Analysts in a Reuters poll had forecast employment would increase by 20,000 after Canada shed 88,000 positions in January, the most in nine years.

Wednesday, after ushering in three interest rate hikes since last summer, the Bank of Canada held its benchmark rate at 1.25 per cent.

The province gained a total of 2,300 jobs compared to last month.

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