Canada adds 55,900 new jobs in February; unemployment rate remains at 5.8 percent

Statistics Canada reported on Friday that the number of employed people rose by 55,900 m-o-m (+0.3 percent m-o-m) in February, exceeding economists’ forecast for a 300 increase and after an unrevised advance of 66,800 in the previous month. 

Meanwhile, Canada's unemployment was flat m-o-m at 5.8 percent as the number of people searching for work held steady. Economists had forecast the reading to stay at 5.8 percent. 

According to the report, full-time employment increased by 67,400 (+0.4percent m-o-m) in February, while part-time jobs declined by 11,600 (-0.3 percent m-o-m).

In February, the number of private sector employees climbed by 31,800 (+0.3 percent m-o-m), while the number of public sector employees grew by 8,900 (+0.2 percent m-o-m). At the same time, the number of self-employed increased by 15,100 (+0.5 percent m-o-m) last month. 

Sector-wise, there were more people working in professional, scientific and technical services (+18,000 in February), public administration (+14,000), natural resources (+8,000) and agriculture (+6,000). At the same time, there were fewer workers in accommodation and food services (-14,000), as well as transportation and warehousing (-11,000).

On a year-over-year basis, employment rose by 369,000 (or 2.0 percent), reflecting increases in both full- (+266,000) and part-time (+103,000) work.