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

Okanagan rinks have mixed results as BC Seniors Curling finals begin

A total of 15 rinks are competing in Vernon for right to go to nationals in Manitoba

‘The NDP of the ’90s is back’: Kelowna-Lake Country MLA voices concerns over 2020 budget

Kelowna-Lake Country MLA Norm Letnick said the new budget is “classic NDP tax-and-spend”

Canadian Air Force joins Okanagan rescue of missing Kelowna snowmobiler

The teen had been missing since just after 6 p.m. on Monday

City of Kelowna signs UNHCR statement of solidarity with refugees

The #WithRefugees campaign invites cities working to promote inclusion and support refugees

Aquilini Group addresses heating complaints at SOPA Square in Kelowna

Some store owners have been without heat at development for up to a month

VIDEO: 7 things you need to know about the 2020 B.C. budget

Surplus of $227 million with big spending on infrastructure and capital projects

Trees Cannabis director fined $1.5M for selling marijuana

Fine follows provincial crackdown on popular dispensary

World Cup skier from Okanagan dies suddenly at 19

Kuroda, who made his World Cup debut earlier this year, passed away suddenly Monday night.

Coastal GasLink pipeline investor committed to closing deal despite protests

Developer TC Energy Corp. — formerly TransCanada Corp. — is to remain the operator of the $6.6-billion pipeline

New highway proposed between Alberta and B.C.

The route would connect Red Deer to Kamloops

What’s in a name? The story of Revelstoke’s Mt. Begbie

It’s likely the iconic peak had several Indigenous peoples’ names before settlers arrived

Budget 2020: B.C. Liberals blast ‘Netflix tax,’ lack of economic plan

ICBC rates still go up, except in election year, Shirley Bond says

Town of Osoyoos voices support for proposed casino

Osoyoos council voted to submit a letter of support for a proposed casino on OIB land

Two law enforcement trucks ‘deliberately’ set on fire in northern B.C., RCMP say

Police say they have video evidence of a person in the area of the truck fires

Most Read