Unemployment: Canada loses 2,300 jobs

OTTAWA: The Canadian economy lost 2,300 jobs in February, with fresh losses in the oil-producing provinces raising unemployment to 7.3%, the highest level seen in 3 years, official data showed Friday. The results fell short of analysts’ expectations of 10,000 new jobs and unemployment holding steady at 7.2%. Although there was a slight increase in the number of people working, full-time employment dropped (51,800 less full-time jobs) and was only partially compensated by an increase in part-time jobs (49,500 extra part-time jobs), according to Statistics Canada. The job cuts were most pronounced in health care and social assistance, educational services and natural resources. But there were more people working in construction, business, building and other support services, as well as agriculture. Canada, the world’s fifth largest oil producer, has been hit hard by the drop in crude prices.

Published in The Express Tribune, March 13^th, 2016.

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