Latest Canadian Unemployment Numbers
Feb 07, 2014
Canada is happy today with the release of the latest unemployment numbers, moving from 7.2% to 7% unemployment nationally. It was a combination of 30,000 more jobs and a decrease in the working population driving a 0.2% change.
Alberta was looking strong, benefiting from 10,000 of those created jobs, complemented by an influx of workers. This moved Alberta unemployment to 4.6%, improved from 4.8%. Alberta currently holds the second lowest unemployment rate just below Saskatchewan.
BC was also all smiles with a drop in the unemployment number from 6.6% to 6.4%, sharing the scenario enjoyed by Alberta: working population increase with job growth up even higher.
Saskatchewan which is usually a pillar of growth in the west was the only Western province not smiling. Unemployment lost ground moving from 3.9% to 4.3%. In Saskatchewan’s defence a 3.9% unemployment rate is an extremely low figure and hard to sustain for a long period – even for just 4 weeks! They still hold the title for Canada’s highest employed province.
Overall the Western Market is demonstrating strong indicators. Looking over the past six months in Canada, job creation has averaged 15,000 per month, which is expected to be the average pace persistent throughout 2014.