Full-Time Jobs Surge in February

ID 96505953

The overall Canadian increase even outpaced job creation in the United States, where figures showed an increase of just 20,000 new positions last month.

More people joined the labour force as participation grew to 62.1 per cent, up from 61.4 per cent the month before.

On the other end of the spectrum, the number of jobs in accommodations and food services shrunk by 14,000.

Also, the price of oil, one of Canada's major exports, was pressured by signs of a slowing global economy.

"Almost all the new jobs came in Ontario, which added 59,000 full-time positions".

Ontario's unemployment remained unchanged between January and February.

When you add in the 66-thousand, 800 net new jobs created in January, the numbers represent the best two-month stretch of job creation since the spring of 2012.

The latest jobs report by Statistics Canada says the unemployment rate held firm last month at 5.8 per cent as more people hunted for work. With the trend pace of hiring the strongest it's been since the turn of the millennium and full-time jobs leading the way, there is a lot to like in today's report, even allowing for the usual disclaimer about the monthly noise. Rounding things out was a 15.1k net increase in self-employment.

Wages accelerated again, rising 2.2% for permanent employees (January: + 1.8%). It's a key reason why the Bank of Canada is sticking to its belief the economy will rebound and interest rates will likely head higher.

In addition, the Ontario Government said in a release that Kitchener-Waterloo-Barrie has the largest employment growth year-over-year across the province at seven per cent growth.

Year-over-year, the unemployment rate is up from February 2018 when it sat at 4.5%, and when 38,000 people were reported to be employed in a labour force of 39,800. The unemployment rate remained at 5.8% as more of us were engaged with the labour market. Over the past year, employment in the industry has grown by 6.8 per cent.

Canada has seen some significant job creation for the second month in a row.



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