Canada revises jobs data, changes minimal

Fri Feb 1, 2013 9:35am EST
 
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OTTAWA (Reuters) - Canada's economy created 31,200 net new jobs in December, revised down slightly from the 39,800 previously estimated, Statistics Canada said on Friday after adjusting for the latest seasonal factors.

The unemployment rate was unchanged at 7.1 percent, the agency said.

Statscan revised the data going back three years to take into account the seasonal patterns observed in 2012. It said the changes to employment growth were within the margin of error and there was no change in the overall trend.

The agency said the revised estimates can offer a slightly different picture of the labor market than the original one, especially in periods of high volatility or near an economic turning point.

In December, the number of full-time job created was 32,200 versus the 41,200 originally reported and 1,000 part-time jobs were lost compared with 1,400 previously.

The rate of participation in the labor force was unchanged at 66.8 percent.

On average, the economy added 33,100 jobs per month in the final quarter of last year, roughly unchanged from the unrevised average of 33,600 jobs a month in that period.

The revised estimates will be used in Statscan's report on January employment, to be released on February 8 at 8:30 a.m. (1330 GMT).

(Reporting by Louise Egan; Editing by Jeffrey Hodgson & Theodore d'Afflisio)

 
A man, with a sign strapped to his back, uses a megaphone to attract the attention of potential employers as he hands out resumes on Bay Street in the financial district in Toronto, March 5, 2009. REUTERS/Mark Blinch