Canada sees second straight monthly employment surge with 55900 net new jobs

Unemployment rate

Within the province, the highest unemployment rate in February was 16.5 per cent, in the region that includes Campbellton and Miramichi.

Meanwhile, Canada's unemployment rate isn't budging despite job growth in February.

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. At the same time, there were fewer workers in accommodation and food services, as well as transportation and warehousing. Statistics Canada reports 56,000 new jobs were created last month, with a majority in full-time work.

The goods-producing sectors added 9,500 new positions following job gains in natural resources, agriculture and manufacturing.

Overall, the increase was led by a gain of 46,200 positions the services sector, largely concentrated in the categories of professional, scientific and technical services, public administration and wholesale and retail trade.

More young Canadians, between the ages of 15 and 24 years old, found work last month as youth employment gained 28,600 positions.

Even with the increase seen in 2019, the country-wide unemployment rate has stayed virtually unchanged, according to Statistics Canada. The average year-over-year wage growth of permanent employees - a figure closely watched by the central bank - was 2.2 percent in February, up from 1.8 percent in January. In particular, it focuses on a reading called "wage common", which incorporates payroll data from several sources, not just from the labour force survey.

By region, Ontario saw the biggest employment increase last month with the addition of 36,900 jobs. The best two month-stretch in the job market since 2012.

"We're going to continue to do stuff like this to generate more employment, to continue to invest in infrastructure generally and continue to fight to get the pipeline to tidewater in order to build that level of investor confidence that will move us forward". Over the past year, employment in the industry has grown by 6.8 per cent.

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