Last Updated on January 24, 2019
The Canadian economy continued to add more jobs last month with a gain of 7,100 positions, according to the latest data from Statistics Canada.
Unemployment rates fell to 7.2 percent, which is the lowest number since December of 2008.
Though the numbers do display continued economic recovery in Canada, experts are slightly disappointed that forecasted levels of growth were not reached.
“Not exactly what the doctor ordered, but not bad,” said BMO economist Doug Porter. “The Canadian jobs report sets a reasonably good table. The headline jobs tally was a touch light, but the details of the report are unambiguously healthier – the strong gain in full-time jobs, the pop in private sector employment, and the fact that the overall number was skewed lower by yet another July drop in education employment.”
The job increases were mostly in the transport, construction and retail and wholesale industries. Job losses were seen in healthcare, social aid and public administration.
Economists are predicting more volatility in the near future as markets respond to and recover from the U.S. debt-management crisis.