January’s increase in jobs came as the unemployment rate fell to 5.5 per cent compared with 5.6 per cent in December(The Canadian Press file photo)

Statistics Canada says economy added 34,500 jobs in January, unemployment down

Economists on average had expected an increase of 15,000 jobs for January

The Canadian economy added 34,500 jobs in January, fuelled by gains in the manufacturing, construction and agriculture industries, Statistics Canada said Friday.

The increase in jobs came as the unemployment rate fell to 5.5 per cent compared with 5.6 per cent in December, according to the monthly labour force survey.

Economists on average had expected an increase of 15,000 jobs for January, according to financial markets data firm Refinitiv.

The goods-producing sector powered the job growth as it gained 49,100 jobs. The manufacturing group added 20,500 jobs for the month, while the construction subsector added 15,800. Agriculture added 11,500.

Meanwhile, the services-producing sector lost 14,500 jobs, weighed down by the loss of 16,000 jobs in the health care and social assistance subsector.

The gain in jobs for the month came as the number of full-time jobs rose by 35,700, while part-time employment fell by 1,200.

READ MORE: Canadian economy added 35,200 jobs in December, unemployment rate falls

Regionally, Quebec added 19,100 jobs in January, while Manitoba added 6,500 jobs. New Brunswick added 4,600. The number of jobs fell by 18,900 in Alberta.

The Bank of Canada kept its key interest rate target on hold last month but left the door open to future rate cuts if weakness seen in the economy at the end of last year is more persistent than expected.

Governor Stephen Poloz has said the central bank will be paying particular attention to developments in consumer spending, the housing market and business investment.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Employment

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Town of Ladysmith receives $3.3 million grant for Arts & Heritage Hub

The funds will go to creating artist studios around the Machine Shop and maintaining heritage assets

Extension given for Cowichan region homeless tenting sites

Meeting with BC Housing to determine the next step

B.C. Supreme Court dismisses claim against Island Corridor Foundation

Snaw-Naw-As (Nanoose) First Nation was seeking return of reserve land as railway sits unused

What’s in a name? Ladysmith’s historical streets re-examined

Several streets in downtown Ladysmith are named after generals that served in the Boer War

Archie’s lets the good times roll

Blast from the past at new diner in the Chemainus Public Market

Horrifying video shows near head-on collision on Trans Canada

The video was captured on dash cam along Highway 1

Facing changes together: Your community, your journalists

We’re asking you to lock arms with us, as we look to better days ahead

UPDATE: Vancouver Island skydiving community mourns loss of one of its own

James Smith, 34, of Victoria, dies in Nanoose Bay incident

Elizabeth May endorses Furstenau in BC Greens race

Former federal party leader backs Cowichan Valley MLA

Fraser Valley woman complains of violent RCMP takedown during wellness check

Mounties respond that she was not co-operating during Mental Health Act apprehension

B.C. sees 12 new COVID-19 cases, no new deaths

Three outbreaks exist in health-care settings

Lost dog swims Columbia River multiple times searching for home

The dog was missing from his Castlegar home for three days.

COVID-19: B.C. promotes video-activated services card

Mobile app allows easier video identity verification

ICBC to resume road tests in July with priority for rebookings, health-care workers

Tests have been on hold for four months due to COVID-19

Most Read