Canada adds new jobs overall, but loses full-time work; jobless rate dips to 5.8%
OTTAWA — The economy got a job-creation lift last month that nudged the unemployment rate back down to match its all-time low of 5.8 per cent — but a closer look reveals a rush of part-time work and a big decline in full-time positions.
Statistics Canada’s latest labour force survey, released Friday, showed the country lost 39,300 full-time jobs and generated 54,700 part-time positions in February. It also found the job gains were driven by an increase of 50,300 in public-sector jobs.
The national unemployment rate slipped from 5.9 per cent in January to 5.8 per cent — to match its lowest level since the agency started measuring it in 1976. The jobless rate has only fallen to 5.8 per cent twice during that time, once in 2007 and again in December.
Looking back, the job market added 282,500 positions for a 1.5 per cent expansion over the past 12 months — with growth entirely due to full-time work. Canada’s year-over-year job creation last month showed signs of moderation after the number climbed above 420,000 positions in December.