Canadian Job Numbers Beat Expectations
The job market of Canada increased by 15,300 in the month of February, a lot higher than the 2,500 growth rate economists had predicted for the country. Also, the joblessness rate declined by around 6.6%, its lowest since the month of January 2015. To cap it all up, all the increase came from permanent job positions.
Numbers from Canada showed an approximate figure of around 105,000 more people gained employment the previous month while temporary job positions declined by around 90,000.
The picture depicted a definite increase from the norm in 2016 when temporary jobs workers drove the platform for employment growth. “In the area of employment creation, the year 2016 depicted quantity over quality,” an economist told newsmen at the end of the year. Such discrepancies in the temporary and permanent job market are not normal for a nation that is not in recession.
The economist also warned that the figure depicted only shows a brewing storm for the country in 2017. Presently, the figures seem to take away some of the initial fears.
The news is another piece of proof that the economy of the country has gone downwards.
The joblessness rate dropped by around 0.2% from 6.8% in the month of January which resulted from both creations of jobs and fewer Canadians searching for employment, a report said.
As far as states go, the province of Alberta, Ontario, Saskatchewan and Manitoba experienced a slight rise in their statistics, with the unemployment rate of Ontario dropping to 6.2% from 6.4%. Quebec and Nova Scotia saw dismal performances in their job production, losing about 6,800 jobs (Nova Scotia) and 11,100 jobs(Quebec). Quebec saw its joblessness rate rise to 6.4% from 6.2%.