The economy lost 88,000 positions - all of them part time - in January for its biggest employment decline in a single month since 2009, Statistics Canada's latest jobs survey revealed Friday.
Also, because the labour-force survey relies on Canadians to report their income and employment status, it is not as reliable as the Survey of Employment, Payrolls and Hours, which uses payroll-tax data and is released about six-to-eight weeks after the end of the month.
The decrease was driven by the loss of 137,000 part-time positions, including more than 59,000 in Ontario.
The job market is coming off its strongest pace of growth since 2002 after creating more than 400,000 jobs in 2017.
"This is a big number on the surface, but so were the gains over the previous several months", Marple wrote in a research note.
Looking at the bigger picture Overall, the news isn't all bad, especially if you look at the bigger picture.
Although Ontario shed 51,000 jobs in January, Statistics Canada data suggest the losses are not attributable to the province's decision to raise the minimum hourly rate to $14 from $11.60 last month.
Tottenham Hotspur versus Arsenal - Fans' view
Our new look forward line has a chance to perform on a big stage away from home against our local rivals. Besides which, the North London derby is arguably the more important game for Spurs.
Dozens wounded in clashes at West Bank following Palestinians killing
Tensions have risen since US President Donald Trump's controversial recognition of Jerusalem as Israel's capital on December 6. Israeli forces have carried out daily raids and increased the arrests of Palestinians in the hunt of the perpetrator.
Stock'S Earning Overview Activision Blizzard, Inc. (ATVI)
The stock decreased 5.23% or $3.63 during the last trading session, reaching $65.83. (NASDAQ:GARS) to report earnings on March, 6. Destiny 2 was called out as having larger attach rate for its Curse of Osiris expansion than the first expansion for Destiny 1.
The unemployment rate in Medicine Hat has once again gone up.
In a labour force of 39,200, this region saw 37,700 people employed in January - while 1,500 were unemployed.
"Ontario lost 40 per cent of the part-time jobs in Canada". Halifax had an unemployment rate of 6.8 per cent in January, down from seven per cent in December.
January's job losses lowered expectations that the Bank of Canada would hike interest rates at its next rate announcement scheduled for March.
Porter said there were some special factors in January including the minimum wage hike in Ontario, harsh winter weather which affected construction and an inevitable pullback after exceptionally strong job growth in 2017. While there were job losses in Quebec, New Brunswick, and Manitoba, Alberta saw very little in the way of job losses as part-time workers were replaced with full-time workers. While the unemployment rate in December was 8.6 per cent, month-over-month comparisons are hard to make as data is unadjusted for seasonal differences that can influence each month. That was enough to hike the unemployment rate to 5.9%.
With files from the Canadian Press.
The Dow ended with a 330.44 point or 1.38 per cent gain to 24,190.90, in the wake of Thursday's session that ended with a steep drop marking a 10 per cent decline from the market's peak in January.