The economy added just 2,300 jobs in January and the unemployment rate rose to a nine-month high of 7.6 per cent. Economists had been expecting job gains of 22,000. Canada has added only 129,000 jobs over the past year. Job creation has been sluggish and the unemployment rate was increasing. The finance, insurance and real estate sector continued its employment decline and tumbled for the fifth straight month, shedding 23,000 jobs in January. Employment rose among women aged 55 and over. Employment among those aged 15 to 24 fell for the fourth month in a row.
Finally the U.S. jobs market is looking up. American employers created 243,000 jobs last month – outstripping expectations and sending the unemployment rate to a near three-year low of 8.3 percent, the Labour Department said. The unemployment rate dipped to 8.3 percent, the lowest since February of 2009, from 8.5 per cent in December.
No comments yet.