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Friday, April 24, 2015

Canada pumps out 35,400 jobs in January, mostly part-time work available

Canada added more jobs in January than economists forecast, with gains in part-time work taking the unemployment rate close to a six-year low. Employment rose by 35,400 and the jobless rate fell to 6.6 percent from 6.7 percent, Statistics Canada said Friday in Ottawa recently. Economists surveyed by Bloomberg News expected no change in the unemployment rate and 5,000 new jobs. The actual employment gain exceeded all 21 forecasts. The report suggests consumers may again help carry the world’s 11th largest economy this year as business confidence is crimped by the plunge in prices for crude oil, Canada’s top export. Job creation and low interest rates have driven Canada’s economy through big-ticket purchases by consumers since the 2008 global financial crisis. Part-time positions rose by 47,200 in January, while full-time employment declined by 11,800. The labor force participation rate remained at 65.7 percent, the lowest since 2000, Statistics Canada said. Workers designated by Statistics Canada as employees fell by 5,700 and the self-employed category increased by 41,100. By industry, the biggest gain was the 22,400 in professional, scientific and technical services. Manufacturing added another 10,700 jobs. Average hourly wages of permanent employees rose 2.1 percent in January from a year earlier. The report showed mixed signs of how the energy industry is dealing with lower crude oil prices. Employment in natural resources fell by 8,800 in January. In the province of Alberta, home of Canada’s major oil sands deposits, employment rose by 13,700 and the unemployment fell to 4.5 percent from 4.7 percent, tying with Saskatchewan for the lowest rate. In a separate report, Statistics Canada said that building permits in Alberta rose 30.7 percent to $1.69 billion in December. Nationwide, permits rose by 7.7 percent to $7.11 billion. Economists predicted a 5.0 percent increase. See Canada Jobs

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