Canadian job gain exceeds forecasts in January

Canada, February 6: Statistics Canada revealed that Canada gained three times the jobs expected in January.

This has pushed the unemployment rate to the minimum level since September 2009. 

The official figures from the agency stated that nearly 43,000 new Canadian jobs have been created in the month of January and the majority of such jobs are part-time for youth and women. It has been found that the figures show a much better position as the consensus has predicted about 15,000 new Canadian jobs in January. 

Hence, the jobless rate has fallen to 8.3 percent as against the earlier rate of 8.4 percent nationally.  

Meanwhile, the jobless rate of Alberta has remained unchanged at 6.6 percent in January. And the minimum wage rate in the province of 
Alberta has been frozen at $8.80 to help people stay employed and keep the small businesses competitive. 

The minimum wage rate of Ontario, Quebec, Saskatchewan, Newfoundland and Manitoba are $9.00, British Columbia ranks lowest in terms of hourly minimum wage rate which is $8.00. Alberta ranks sixth in terms of hourly minimum wages. 

This accelerated growth rate in Canada jobs has been due to part-time positions, although the full-time employment did not witness any major growth in any Canadian city except Ontario which contributed in creating nearly 14,000 jobs, all of which were full-time. 

And the job gain is being called as the fourth Canadian jobs gain in the period since last six months. 

Ontario tops the list with nearly two-thirds of the growth in the Canadian jobs. 

The gains were seen mainly in private and public-sector jobs. It was noteworthy to find such a stunning increase in the Canada employment opportunities, but the full time employment continued to stay flat, TD Economics stated. 

The deputy chief economist with Toronto’s BMO Capital Markets, Doug Porter, said the gain in Canadian jobs is in line with the moderate recovery in Canadian economy. 

Meanwhile, the freeze in Alberta’s hourly minimum wages is being criticized by many including Gil McGowan, the president of Alberta Federation of Labor, who feels it will increase the problems of those already struggling to make their both ends meet. 

The latest statistics say that at least 20,000 Albertans are earning minimum wages out of which nearly 50 percent are working in retail, accommodation and food services industries.