Jobless rate edges down to 8.3%

by CBC — February 5, 2010

The Canadian economy added a better-than-expected 43,000 jobs in January, Statistics Canada said Friday.

That was enough to push down the unemployment rate by one-10th of a percentage point to 8.3 per cent. It was the fourth month of job gains in the last six months.

Economists had been forecasting a more modest gain of 15,000 jobs.

The jobs gains were largely part time, as only 1,400 full-time jobs were created last month. Most of the new job creation took place in the private sector.

From the employment peak in October 2008, the country has shed 280,000 jobs.

Ontario was responsible for more than half the new jobs, adding 30,300 positions.

Average hourly wage growth in January dramatically slowed to 1.8 per cent year-over-year. The annual rate of wage growth had been 2.4 per cent in December.

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Source:CBC top stories