1 Min Read
(Reuters) - Canada's unemployment rate jumped to 7.2 percent in January from 6.6 percent as employers cut a record 129,000 workers from payrolls, the biggest monthly job loss ever recorded in the survey, Statistics Canada said on Friday.
Job losses in the manufacturing sector were also the heaviest recorded since Statscan began collecting the data in 1976.
Jan 2009 Dec 2008
Jobs gain/loss -129,000 -34,400
full-time -113,900 -70,700
part-time -15,100 +36,200
Unemployment rate 7.2 pct 6.6 pct
Participation 67.4 pct 67.6 pct
Labor force 18.292 mln 18.320 mln
Jan 2009 Jan 2007 Pct change
Avg hourly wage C$22.59 C$21.58 +4.7
NOTE: Analysts surveyed by Reuters had expected the economy to lose 40,000 jobs in January and the unemployment rate to rise to 6.8 percent. The employment figures are seasonally adjusted. Hourly wage figures are for permanent employees.