Canada’s labor market eked out 15,400 new jobs in February but continued to struggle as the number of full-time jobs contracted by nearly 40,000, according to a government report released Friday.
February’s job gains nudged the unemployment rate down slightly from 5.9 to 5.8 percent, but were concentrated entirely in part-time and public sector jobs.
Part-time jobs were up by 54,700 positions, while full-time jobs declined for the first time in six months, losing 39,300 positions, according to Statistics Canada. The decline in full-time employment follows a terrible January, which saw an overall job loss of 88,000.
Additionally, the public sector accounted for nearly all of February’s job gains — 50,300 government jobs were added in February, compared to just 8,000 in the private sector, reports CBC News. Economists say the tepid private sector job growth is a problem because increasing employment through the public sector is not fiscally sustainable, particularly when many governments are already running large budget deficits. – READ MORE
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