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Statistics Canada Reports Significant February Job Losses

By Bob Ewing     Mar 13, 2009 in Business
Employment fell for the fourth consecutive month in February (-83,000), bringing total losses since the peak of last October to 295,000 (-1.7%)
Statistics Canada reports the February employment decrease has pushed the unemployment rate up 0.5 percentage points to 7.7%.
All of the employment losses in February were in full-time (-111,000), while part-time employment edged up slightly.
The downward trend in full-time employment continues while part-time employment has shown only a marginal increase over the same period.
In February, the largest decline in employment occurred in Ontario (-35,000), followed by Alberta (-24,000) and Quebec (-18,000).
Men aged 25 to 54 were particularly hard hit by February's employment decline (-66,000). Since the start of the labour market downturn, employment among core-age men has fallen by 170,000 (-2.7%).
Employment among 15 to 24 year-olds also continued to trend down in February (-29,000). This latest decline brings total losses since October to 104,000 (-4.0%), the fastest rate of decline of all age groups. The unemployment rate for youths was 14.2% in February, up 2.0 percentage points from last October.
A decrease of 43,000 in construction accounted for over half of the employment decline in February. There were also losses in professional, scientific and technical services; educational services; and natural resources. The only industries with gains in February were manufacturing and agriculture.
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