The Canadian economy shed a surprising 88,000 jobs in January, with the losses concentrated in part-time work, Statistics Canada reported Friday.
The drop in employment — the biggest one-month slide in nine years — pushed the national jobless rate up by 0.1 percentage points to 5.9 per cent.
It’s a marked difference from November and December, when a total of 145,000 jobs were added.
Despite low unemployment, young people say finding a job is as difficult as ever: Don Pittis
In January, Statistics Canada said part-time employment declined by 137,000. Meanwhile, full-time employment grew by 49,000.
The weak employment report for last month was worse than economists had been expecting. The market consensus was for a loss of roughly 9,000 jobs.
“Overall, a mysterious mix of good and bad, with the latter’s impact blunted by how strong job gains were in the lead-up to these figures,” CIBC chief economist Avery Shenfeld wrote in a commentary.
via CBC 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.