Canada’s unemployment rate drops again in January as economy posts solid job gains

Canada’s unemployment rate unexpectedly fell and the economy posted another solid month of job gains, data showed on Friday, in signs that joblessness was started to ease.
 
In January, the unemployment rate was 6.6 per cent, a notch below the 6.7 per cent seen in the prior month and the economy added a net of 76,000 jobs, slightly down from a revised 91,000 job additions in December, but still a robust gain.
 
Analysts polled by Reuters had forecast net additions of 25,000 jobs in January and the unemployment rate at 6.8 per cent.
 
This was the second month in a row that the unemployment rate, or the number of jobless people as a percentage of the total labor force, declined. Although the total number of unemployed people stayed at a high of 1.5 million.
 
“This indicates that many unemployed people are facing continued difficulties finding employment, despite recent employment growth,” Statscan said.