Windsor's unemployment rate sees significant drop

Windsor's unemployment rate sees significant drop

However, several experts made sure to note that before trying to draw conclusions from the January report, one should consider the well-known month-to-month volatility in the jobs figures.

But all the losses last month were in part-time job which decreased by 137,000 while full-time jobs rose by 49,000.

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.

The study also showed Saskatchewan's unemployment rate was at 5.4 per cent.

A chart showing unemployment rates by province for January 2018. A strong labour market, like the one Canada has seen in recent months, generally invites more people to rejoin the labour force and apply for jobs.

BMO chief economist Douglas Porter noted it was the first setback for jobs in Canada's job market in 16 months and Ontario was especially hard hit.

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"This is still a solid job market, we will have to monitor how the market adjusts to the minimum wage", Brittany Baumann, a macro strategist at TD Securities, said by phone from Toronto.

Economists surveyed by Bloomberg News had forecast the economy would generate 10,000 jobs in January, and the jobless rate would remain unchanged. Lower monthly rates have only been recorded - in any month - three times since January 2001, the earliest date for which data using the same geographic boundaries is available.

But the labor force grew by 1,400 which pushed up the unemployment rate.

"This is a mixed bag for the Bank of Canada because we did see a significant rise in wage inflation ... which might counter the disappointment on the headline jobs count", Shenfeld said. Provincial summary The drop in the number of people employed also coincided with an increase in the minimum wage in Canada's largest province, Ontario.

Porter said weak jobs report in January make it more likely the Bank of Canada will move slowly on more hikes to interest rates.

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