Unemployment falls in December
Posted January 4, 2013 6:49 am.
This article is more than 5 years old.
OTTAWA (NEWS1130) – The Canadian economy created more jobs than economists expected in December, according to Statistics Canada.
The agency says 40,000 new jobs were created last month; economists had expected an increase of just 5,000.
The unemployment rate dropped by one-tenth of a point to 7.1 per cent, despite expectations of an increase to 7.3 per cent. The better-than-expected results follows a strong November, when the economy created 59,300 jobs.
December’s gains were entirely from new full-time work.
Statistics Canada says 41,200 new full-time jobs were added. Part-time employment saw a decline of 1,400 jobs.
Meanwhile, US employers added 155,000 jobs in December, a steady gain that shows hiring held up during tense fiscal negotiations in Washington.
The Labor Department says the unemployment rate stayed at 7.8 per cent last month. November’s rate was revised higher from an initially reported 7.7 per cent.
Robust hiring in manufacturing and construction fueled the gains. Construction added 30,000 jobs, the most in 15 months. That likely reflects additional hiring needed to rebuild after Superstorm Sandy hit the Northeast.
Solid gains in home building also have contributed to a housing recovery. Manufacturing gained 25,000, the most in nine months.
Even with the gains, hiring is far from accelerating. Employers added an average of 153,000 jobs a month last year, matching the monthly average in 2011.
