Canadian economy added 35,000 jobs in December

  • Canadian economy added 35,000 jobs in December

Canadian economy added 35,000 jobs in December

Economists bristled at Friday's job report that fell well short of expectations by adding just 145,000 new jobs last month, which was an indication of just how much job growth has slowed in the country. December's slowdown partially reflects a large jump in retail jobs at the height of the holiday-shopping season.

The job market will gain more attention as the election nears and the health of the economy under Trump is debated among candidates. Of those, 1.2 million people had been out of work 27 weeks or longer. Hiring may have slowed because the number of unemployed people seeking work has fallen by 540,000 people over the past year to 5.75 million.

Canadian employment rebounded in December after two straight monthly declines, capping the second-best year since the recession and supporting the Bank of Canada's view that the bottom isn't coming out of the labour market. Wages for rank-and-file workers grew at a slightly faster rate, up 3% in December from a year earlier, but the pace of those gains has cooled sharply from a 3.6% annual increase in October.

The leisure and hospitality sector - which includes restaurants and hotels - added another 40,000 jobs.

Citing data from the U.S. Bureau of Labor Statistics, Boykins also tweeted the number of jobs added annually since 2013, with the calendar year of 2019 being tied for the lowest in that time span.

USA employers withdrew in December and created 145,000 new jobs.

The change in total nonfarm payroll employment for October was revised down by 4,000 from +156,000 to +152,000, and the change for November was revised down by 10,000 from +266,000 to +256,000.

Most of the December employment gains came from service industries, extending a trend present throughout 2019 amid broad-based softness in the manufacturing sector.

The monthly jobs report also found that average hourly earnings rose 0.1% to a year-on-year jump of 2.9% and average weekly hours dipped to 34.3 hours.

One bright spot was the U-6, or underemployment rate, which fell to 6.7%, a record low in data back to 1994. The so-called labor-force participation rate was 63.2%. "Wage growth is the most important indicator to watch in 2020".

Bruce Ralston, B.C. Minister of Jobs, Trade and Technology, said British Columbians' average wages increased by $1.52 an hour over the past year, the highest wage growth in Canada. As the Friday report further shows, there are significant differences this year between the figures from ADP-Moody's and the government.

December has not been the best month for payrolls over the last decade.