BCREA ECONOMICS NOW

Canadian Labour Force Survey and US Non-Farm Payrolls - February 3, 2012

A disappointing jobs report this morning showed that Canadian employment was virtually unchanged in January.  The Canadian unemployment rate ticked 0.1 points higher to 7.6 per cent.  Employment declined in BC by 2,200 jobs, but a larger decline in labour force participation pushed the provincial unemployment rate lower to 6.9 per cent.

South of the border, the jobs news was much better. The United States labour market added 234,000 new jobs in January, well beyond market expectations of 150,000 jobs. Employment growth has averaged 200,000 jobs over the past three months, a strong sign that the US labour market is finally healing. The US unemployment rate fell to 8.3 per cent in January, the fifth straight monthly decline.

For more information, please contact:
Cameron Muir     Brendon Ogmundson
Chief Economist     Economist
Direct: 604.742.2780     Direct: 604.742.2796
Mobile: 778.229.1884     Mobile: 604.505.6793
Email: cmuir@bcrea.bc.ca     Email: bogmundson@bcrea.bc.ca

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