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

Just Posted

Kimberley/Cranbrook entertainment listings

Big festival weekends coming up in Kimberley and Cranbrook

Region’s judo dojos take part in Cranbrook training session

On Saturday, February 15, the Cranbrook Judo Dojo hosted the Kootenay Regional… Continue reading

Memorial Arena set to host high school graduation ceremonies

Western Financial Place expected to be unavailable due to ongoing construction during summer months

PHOTOS: Taking in the action at Winter Blitzville

The second annual Winter Blitzville was bigger and better this year as… Continue reading

Bucks sign defenseman Rhys Bentham

The Bucks’ roster — and D-line — continues to grow in advance… Continue reading

Protesters barricade Premier John Horgan’s home ahead of B.C. budget unveiling

Demonstrators from the Extinction Rebellion have blocked the Langford driveway

Budget 2020: B.C. adds tax to sweet drinks and sodas

All soda, vending machine drinks will be subject to higher PST

Budget 2020: B.C. unveils new grant for students, phases out debt-relief program

For the first time, diploma, certificate students qualify for yearly post-secondary grant

2020 Budget: ICBC shortfall continues ahead of new rate-reduction plan

ICBC operating with $91-million deficit for 2019-2020 fiscal year

Budget 2020: B.C. NDP taps top tax bracket for more revenue

Minimum wage set to pass $15 an hour by 2021

Budget 2020: Not much new for B.C.’s struggling forest industry

Focus on wood waste utilization, efficiency, Carole James says

Skull reconstruction gives new insight into unknown man found in B.C. cemetery

RCMP released a 3-D skull reconstruction of a man who was found dead on July 2, 1998

Forest industry supporters and convoy arrive at B.C. legislature in Victoria

Rally delivers petition in favour of ‘working forests’

At the Cranbrook Public Library

Mike Selby Fascism drives members of Italian nobility to relocate in Vernon,… Continue reading

Most Read