NEWS

Canada sheds 1,000 jobs in February as jobless rate rises to 6.8%

03/13/2015 08:40 EDT | Updated 05/13/2015 05:59 EDT
Canada's economy lost 1,000 jobs in February, and the unemployment rate ticked up 0.2 percentage points to 6.8 per cent.

Statistics Canada said Friday that most of the job losses came in Alberta, but there were also decreases in Nova Scotia and Newfoundland and Labrador, while they increased in Quebec where there was a surge in 17,000 new part-time jobs.

In other provinces, the job market has been stagnating for the past two months, the data agency said.

Alberta alone lost 14,000 jobs during the month, pushing the province's unemployment rate up by almost a full percentage point to 5.3 per cent — it's highest level since late 2011.

Canada's economy actually added 34,000 full-time jobs during the month, but that figure was more than offset by a loss of almost 35,000 part-time jobs.

The unemployment rate came in higher than the 6.7 per cent consensus projection of economists, who also predicted a net loss of 5,000 jobs, according to Thomson Reuters.

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