Canadian economy gains 29,400 jobs in January

Economists had expected the economy to add 20,000 jobs for the month.

The January gain was led by a 50,500 rise in full-time work, while the number of part-time workers fell by 21,100.

“While no ball of fire, today’s solid comeback represents a nice recovery from the ugliness in last month’s Canadian employment report,” BMO Capital Markets chief economist Doug Porter said in a report.

“Notably, though, the unemployment rate at 7.0 per cent is precisely unchanged from three months ago and from a year ago. In other words, the underlying trend in job growth is just firm enough to keep up with labour force population growth-no better, no worse.”

The January results included a gain of 15,200 in transportation and warehousing, 14,600 more jobs in finance, insurance, real estate and leasing and 16,600 added in professional, scientific and technical services.

Health care and social assistance added 16,900 jobs, while accommodation and food services grew by 17,000.

The increases were offset in part by 25,400 fewer people working in business, building and other support services, as well as 16,000 fewer employees in public administration.

The labour force participation rate — the proportion of people either employed or underemployed and actively looking for work — was 66.3 per cent, compared with 66.4 per cent in December as the labour force shrunk by 20,900 people.

Meanwhile, the employment rate or proportion of the working age population actually working was 61.6 per cent, unchanged from a month earlier.

Ontario’s unemployment rate fell 0.4 percentage points to 7.5 per cent as 6,000 more people found employment and fewer people looked for jobs, Statistics Canada said.

Prince Edward Island employment rose by 1,000 in January, with the unemployment rate at 11.3 per cent. The number of people of working in New Brunswick fell by 2,400 as fewer people searched for work.