Northeast BC sees unemployment rate climb above six percent


Northeast BC sees unemployment rate climb above six percent

The losses, according to Statistics Canada's monthly data dump, come through part-time labour positions.

The agency said the economy produced 28,800 full-time jobs last month and shed 30,000 part-time positions. In contrast, employment declined in wholesale and retail trade and in construction. This comes thanks to gains in full-time work. However, that was a drop from 6.5 per cent in April 2017. At the same time, work increased for core-aged women 25 to 54.

Part of the assessment will be looking at a new wage measurement called wage-common, which was recently developed by Bank of Canada staff and is calculated quarterly from job and economic reports.

April saw the biggest climb in wage growth in almost six years.

The most recent reading of wage common was 2.3 per cent for the fourth quarter of previous year.

The indicator, which is closely monitored by the Bank of Canada ahead of its interest-rate decisions, has been creeping upwards. The next scheduled rate announcement is May 30. Another rate increase would be Poloz's fourth since last July. It was little changed elsewhere.

Service sector positions increased by 4,000 year over year.

The unemployment rate stayed at its record low of 5.8 per cent for a third-straight month.

Even with last year's surge in hiring and wages gaining, the central bank has said pockets of untapped labour market slack remain that could limit wage and price pressures.

The community with the worst unemployment rate in Ontario for April was Barrie, where the figure reached 8.4 per cent - 5 per cent higher than it was in December.

The numbers fit a pattern over the past four months that indicate a labour market hitting capacity - with the labour force stalling and employees seeing larger wage gains.



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