Monday, 19 February, 2018

Saskatchewan Unemployment rate second-best among provinces in the country

12:00pm


The nation’s economy shed the most jobs since 2009 in January following two months 12:00pm The nation’s economy shed the most jobs since 2009 in January following two months
Stacy Houston | 10 February, 2018, 09:45

While the overall decline helped push the national unemployment rate up to 5.9 per cent in January from 5.8 per cent the previous month, it's still well below the 6.7 per cent it sat at a year ago.

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

Rocco Rossi, president of the Ontario Chamber of Commerce, said the numbers "reflect the concerns we have heard from businesses for months".

The number was influenced by a drop of 137,000 part-time positions, the largest single-month slump on record.

However, analysts said it would take months of data to assess the fallout from Ontario's minimum-wage hike and cautioned against reading too much into January's employment declines.

An extra 900 people entered the labour force in January, the same amount of people began claiming unemployment.

The province was able to make gains in full-time employment, adding 4,100 jobs.

Raw deal in Union Budget: Andhra Pradesh goes in agitation mood
Three TDP MPs, including Ramesh, rushed to the Well of the House protesting against inadequate allocation for Andhra Pradesh. On the day after the budget, upset TDP leaders had gone into a huddle with party chief and Andhra Pradesh chief minister N.

The decrease of 88,000 jobs fell well short of economists' forecasts for a gain of 10,000 and made for the biggest decline since January 2009 when the economy was dealing with the global financial crisis. They'll scrutinize incoming data over the next few months to get a better sense of the kind of impact Ontario's minimum-wage increase could have on the provincial job market.

The hike was driven by an increase to the labour force and the number of people claiming unemployment. Some research has suggested a reduction in hours or jobs follow mandated wage bumps, while other studies suggest no long-term connection between wage increases and dips in employment rates. Thomas unemployment rate ends 2017 at 6.2% .

However, economists also pointed to possible connections between Ontario's minimum wage and Canada's stronger average wage growth of 3.3 per cent in January.

Ontario had the biggest jobs decline among the provinces, shedding 50,900 positions on a drop in part-time work.

The higher minimum rate could have underpinned Canada's stronger wage growth.

January's job losses lowered expectations that the Bank of Canada would hike interest rates at its next rate announcement scheduled for March.

Canada shed a net 88,000 jobs during the month, a sharp stop to a recent stellar performance that saw 2017 produce the biggest increase in jobs since 2002.

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