Disappointing start to 2012 for labour market
Posted Feb 3, 2012 7:28 am.
This article is more than 5 years old.
The national unemployment rate is up to a nine-month high as the economy created far fewer jobs than expected.
Just 2,300 new jobs were created by the economy in January, pushing the unemployment rate up 0.1 per cent to 7.5 per cent.
Economists had predicted a steady unemployment rate and possibly 22,000 to 25,000 new jobs created.
Part-time employment rose by almost 6,000 jobs, while full-time jobs fell by 3,600.
The employment numbers give credence to The Bank of Canada’s warnings about the slowing pace of the Canadian economy.
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