Days After Trudeau Says He Might Not Sign Nafta Deal With Trump – Canada Announces Biggest Jobs Loss In 9 Years


The number of jobs in Canada fell by 88,000 in January to give the labor market its steepest one-month drop in nine years.

The overall result was dragged down by a loss of 137,000 part-time positions in what was the category’s largest one-month collapse on record.

Statistics Canada’s latest jobs survey says the overall decline helped push the national unemployment rate up to 5.9 percent in January, from a revised 5.8 percent the previous month.

But on the other hand, the agency says the economy generated 49,000 full-time positions last month.

“Overall, a mysterious mix of good and bad, with the latter’s impact blunted by how strong job gains were in the leadup to these figures,” CIBC chief economist Avery Shenfeld wrote in a research note to clients.

“January saw an [88,000] drop in employment, reversing about half of the spectacular gains we registered late last year. But the details are also looking wonky, with all of the job losses in part-time work.”

Share Your Opinion