March 13 (Reuters) - The Canadian economy shed more jobs
than expected in February, losing a net 82,600 posts in the
month as the unemployment rate jumped to 7.7 percent, the
highest since 2003, Statistics Canada said on Friday.
Feb 2009 Jan 2009
Jobs gain/loss -82,600 -129,000
full-time -110,900 -113,900
part-time +28,300 -15,100
Unemployment rate 7.7 pct 7.2 pct
Participation 67.4 pct 67.4 pct
Labor force 18.315 mln 18.292 mln
Source here.
Comments:
In relative terms, the unemployment situation for us is no better
than that of the U.S.
Continue to expect weakness in:
- Automotive and manufacturing (Ontario)
- Housing and construction/contracting
- Resources sector (energy sector in Alberta, forestry in B.C.)
