Canada Sheds 88,000 Jobs In January
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%.
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(END) Dow Jones Newswires
February 09, 2018 08:45 ET (13:45 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.