February 2017 – Canadian job market beats all forecasts
Last month, Canada’s economy created 15,300 new jobs, sharply exceeding the economists’ forecasts of a net gain of 2,500 jobs.
As a result, the unemployment rate fell to 6.6%, marking the lowest rate since January 2015.
In addition to it, the increase was reported in the sector of full-time positions. According to Statistics Canada, approximately 105,000 more people found full-time jobs in February and part-time positions fell by 90,000.
Several recent reports show that housing starts in Canada were up last month compared to January. In addition to it, building permits also went up in January, and the strong market activity breaks all the forecast ofa possible slowdown.
According to the Canada Mortgage and Housing Corp. (CMHC), housing starts rose to a seasonally adjusted annual pace of 210,207 units, following the revised 208,934 units reported in January. High activity in Ontario compensated for cooling in British Columbia.