Employment Up for the Sixth Month in a Row

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Ontario is showing signs of economic recovery but many workers remain underemployed notes a BMO Capital Markets economist.

According to the Statistics Canada’s Labour Force Survey which was released on Friday, employment in Ontario increased for the sixth month in a row.

The province reported that 30,000 more people were employed compared with the previous month we see that the jobless rate has remained unchanged at 9.2%.

Since July we have seen Ontario report employment increase by 51,000 jobs, however Ontario is still in a deep hole, but it is good to see that there are steady gains in provincial employment since it bottomed out in May 2009.

Ontario has accounted for more than half of the employment gains across the country, which is followed by British Columbia and Manitoba. Nova Scotia is the only province to have reported a decline, while the rest of Canada remained the same.

Nationally, 43,000 jobs were created in January, and they were all part time, which has in turn lowered Canada’s unemployment rate by 0.1% to 8.3%.

Full time employment has showed little change, however it has gone up during the past year according to the report.

Despite the increase, national unemployment levels remain 280,000 below October 2008 levels.

We are seeing improvements to Canada’s labour market slowly, but in time it will be able to reach 2008 levels. We have to remember that the recession might not have hit us as hard as other places, but we were still affected by it and we have to take time to recover.

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