Canada sees second straight monthly employment surge with 55900 net new jobs

A steel worker builds a structure in Ottawa

A steel worker builds a structure in Ottawa

"A total of 67,400 full-time positions were added during the month but 11,600 part-time jobs were shed, accounting for the 56,000 net total".

Stats Canada states that positions in those areas have been up since March 2018 and have risen by 6.8% since last February.

When you add in the 66-thousand, 800 net new jobs created in January, the numbers represent the best two-month stretch of job creation since the spring of 2012.

In particular, the employment figures arrived a week after another report showed Canada had a period of unexpectedly weak growth for the final three months of 2018.




"We always take this survey with a grain of salt, and it could still be in the final stretch of catching up to the larger gains we saw a year ago in the more reliable payroll survey", said Royce Mendes, senior economist at CIBC, in a research note. Reinforced by both the weak end to 2018 and Bank communication this week, seemingly solid job trends over the previous year or so have not been translating into consumer spending. The agency said the number of more desirable employee positions in the private sector climbed by 31,800 last month, while public sector jobs rose 8,900. The economy added 46,200 services sector jobs, led by professional, scientific and technical services for the third time in four months, along with 9,500 goods producing jobs, led by gains in natural resources. In a speech on Thursday, central bank deputy governor Lynn Patterson highlighted Canada's strong employment numbers as one bright spot in a mixed bag of economic data.

The Bank of Canada keeps close watch of several wage indicators ahead of policy decisions on its key interest rate.

"Continued strength in job creation, especially full time, alongside recovering wage growth will help support income and spending growth this year", Alicia Macdonald, principal economist for The Conference Board of Canada, wrote in a research note.

In Waterloo Region, the rate dropped from 4.9 per cent in January to 4.7 per cent in February. For the third consecutive month, Ontario and Quebec drove the overall gains, with little marked movement in the other provinces. Over the past year, employment in the industry has grown by 6.8 per cent.

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