Unemployment rate drops to 5.7%, reaches lowest mark in more than 40 years

December reading marked the 13th-straight month of job gains

The unemployment rate fell to its lowest level in more than 40 years as Canada closed out a calendar year that saw it produce jobs at a pace not seen since 2002.

Statistics Canada reported Friday that the unemployment rate dropped to 5.7 per cent in December, down from 5.9 per cent the month before, to reach its lowest mark since comparable data became available in 1976.

In December 2016, the unemployment rate was 6.9 per cent, the report said. The last time the jobless rate was 5.8 per cent was October 2007.

The unemployment reading fell last month as the economy generated 78,600 net new positions, including 23,700 full-time jobs.

By region, Quebec and Alberta saw the biggest increases last month with each province adding more than 26,000 new jobs. Quebec’s unemployment rate fell 0.5 percentage points to 4.9 per cent, while Alberta’s dropped 0.4 percentage points to 6.9 per cent.

The December reading marked the 13th-straight month of job gains, however, about half of those positive numbers were within the survey’s margin of error.

For 2017, the agency’s labour force survey said employment rose 2.3 per cent for its fastest growth rate in 15 years. The economy added 422,500 jobs last year with the gains driven by 394,200 new full-time positions.

By industry, factories saw employment increase 3.5 per cent in 2017, while the services sector experienced a boost of two per cent.

The survey also found that over the last year the number of employed people aged 55 and over rose 5.3 per cent. This exceeded the 2.9 per cent rate of population growth for the age group.

Among core-aged workers, those between the ages of 25 and 54, employment increased 1.6 per cent last year.

In a separate report Friday, Statistics Canada says the country’s merchandise trade deficit widened to $2.5 billion in November, compared to a $1.6-billion deficit the month before, as imports outgrew exports.

Andy Blatchford, The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Port Hardy RCMP looking for volunteers who are interested in public safety

“The volunteer program will include community and crime prevention programs”

Suspicious fire in Alert Bay burns two homes, spreads to nearby bush

Police say underage suspects have been identified

VIDEO: North Island Bantam Eagles tie Dawson Creek Canucks in front of massive hometown crowd in Port Hardy

The Tier 3 Bantam Championships continued in style last night at the Don Cruickshank Memorial Arena.

Tri-Port Midget Wild finish season with gold medal performance

The other teams were no match for the Tri-Port girls.

Chief Administrative Officer officially appointed in Port McNeill

“Pete brings with him 17 years of municipal experience.”

After mosque attacks, New Zealand bans ‘military-style’ guns

The gunman killed 50 in a Christchurch mosque

ICBC shifts to Alberta model, with higher premiums, private insurers say

Minor injury cap, court restrictions take effect April 1 in B.C.

Gallery of hockey stars

Lucky seven from the Cowichan Valley Memorial Midget C Tournament receive their awards

Trans woman hopes funding cut will send message to B.C. rape crisis group

Rape Relief does not turn transgender women away and often connects them to other services, group says

B.C. sees fourth straight day of record-breaking warmth

Bob Marley said it best: The sun is shining and the weather is sweet

UPDATE: Two avalanches confirmed at Okanagan ski resort, one in hospital

A man has been sent to hospital after an isothermal avalanche at SilverStar March 20

Okanagan man, Yorkshire terrier chased by coyote

Animal sightings have been reported around West Kelowna and the Central Okanagan

Having phone within sight while driving does not violate law: B.C. judge

The mere presence of a cell phone within sight of a driver is not enough for a conviction, judge says

Most Read