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Despite gains, unemployment ticks up to 5.8 per cent as more look for work
Despite a flurry of new jobs in January, as the job market tightens and more people search for work, the nation’s unemployment rate jumped from its 43-year low of 5.6 to 5.8 per cent.
Canada added nearly 67,00 jobs last month, fuelled by gains in the private sector, according to Statistics Canada’s monthly labour force survey. Both full-time and part-time employment added 30,900 and 36,000 positions, respectively. The labour force — those working or actively looking for work — ballooned by 103,700. Declines came among those self-employed and in the public sector. The private sector added 112,000 jobs.
On a year-over-year basis, total employment is up 327,000 or 1.8 per cent, reflecting increases in both full- and part-time work.