Canada Sheds 88,000 Jobs In January

02/09/18 08:45 AM EST
  By Kim Mackrael 

OTTAWA -- Canada's unemployment rate ticked up in January after hitting a 10-year low in the previous month, as both the public and private sectors shed workers.

The Canadian economy dropped a net 88,000 jobs in January on a seasonally adjusted basis, Statistics Canada said Friday. The figures came in sharply below market expectations, which called for an increase in employment of 10,000, according to economists at Royal Bank of Canada.

Canada's jobless rate, meanwhile, was 5.9% in January, up from a revised reading of 5.8% in December. Market expectations were for Canada's jobless rate to hold steady in January at 5.8%.

  Write to Kim Mackrael at 

(END) Dow Jones Newswires

February 09, 2018 08:45 ET (13:45 GMT)

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