January’s increase in jobs came as the unemployment rate fell to 5.5 per cent compared with 5.6 per cent in December(The Canadian Press file photo)

Statistics Canada says economy added 34,500 jobs in January, unemployment down

Economists on average had expected an increase of 15,000 jobs for January

The Canadian economy added 34,500 jobs in January, fuelled by gains in the manufacturing, construction and agriculture industries, Statistics Canada said Friday.

The increase in jobs came as the unemployment rate fell to 5.5 per cent compared with 5.6 per cent in December, according to the monthly labour force survey.

Economists on average had expected an increase of 15,000 jobs for January, according to financial markets data firm Refinitiv.

The goods-producing sector powered the job growth as it gained 49,100 jobs. The manufacturing group added 20,500 jobs for the month, while the construction subsector added 15,800. Agriculture added 11,500.

Meanwhile, the services-producing sector lost 14,500 jobs, weighed down by the loss of 16,000 jobs in the health care and social assistance subsector.

The gain in jobs for the month came as the number of full-time jobs rose by 35,700, while part-time employment fell by 1,200.

READ MORE: Canadian economy added 35,200 jobs in December, unemployment rate falls

Regionally, Quebec added 19,100 jobs in January, while Manitoba added 6,500 jobs. New Brunswick added 4,600. The number of jobs fell by 18,900 in Alberta.

The Bank of Canada kept its key interest rate target on hold last month but left the door open to future rate cuts if weakness seen in the economy at the end of last year is more persistent than expected.

Governor Stephen Poloz has said the central bank will be paying particular attention to developments in consumer spending, the housing market and business investment.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Employment

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Approved: Stoked Living development on Hay Rd. will move forward

Revelstoke City Council voted in favour of zoning and OCP amendments required for the project

Two candidates declared for Columbia River Revelstoke

Incumbent Doug Clovechok (BC Liberal) and NDP candidate Nicole Cherlet; nominations close Oct. 2

Okanagan College expands ‘Wellness Wednesdays’ to all students this fall

Wellness Wednesday workshops are designed to be psycho-educational

Liberals vow wage-subsidy extension to 2021, revamp of EI system in throne speech

Canadian labour market was hammered by pandemic, when lockdowns in the spring led to a loss of 3 million jobs

Horgan blasts B.C. Greens for refusing youth overdose detention

Lack of support key to B.C. election call, NDP leader says

Canada’s active COVID-19 cases top 10,000 as daily new cases triple over the past month

Dr. Tam repeated her warning to young people, who have made up the majority of recent cases

Professional basketball league eyes Kelowna for possible expansion

The CEBL completed its 2020 season in a bubble format, being the first Canadian professional sports league to return amid COVID-19

Grand jury indicts police officer in Breonna Taylor death

Officer Brett Hankison was charged with three counts of wanton endangerment

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Grizzly bear spotted in North Okanagan

Two residents warn of sightings in the area

RCMP investigating man reportedly hiking nude on Summerland’s Full Frontal trail

Potential charges against the man could include indecent exposure.

Most Read