"Northern tiger" cranking out jobs

55,000 new jobs created in February, unemployment rate 7.4 per cent
By
|hrreporter.com|Last Updated: 03/11/2003

The Canadian economy, called a "true northern tiger" by Finance Minister John Manley during his budget speech last month, rolled ahead in February, creating 55,000 new jobs in the month, according to the latest figures from Statistics Canada.

But the unemployment rate remained unchanged at 7.4 per cent, the result of more people entering the workforce.

Since 2002, when employment began to pick up steam, job gains have totaled 613,000, an increase of 4.1 per cent.

More full-time and part-time job

The upward trend in full-time employment continued in February with an increase of 28,000 jobs.

Part-time employment also jumped by 28,000, erasing most of the decline in January.

Manufacturing strong

Factory employment rose 21,000, with gains spread across most provinces. The largest increases were in wood and furniture production and in food processing.

Employment in finance, insurance, real estate and leasing continued to advance, spurred on by robust construction activity. The Canada Mortgage and Housing Corporation recently reported that 2002 ended on a high note, posting the highest level of housing starts since 1989.

Unemployment rate by jurisdiction

Canada: 7.4 per cent

Newfoundland and Labrador: 17.5 per cent

Prince Edward Island: 11.5 per cent

Nova Scotia: 8.9 per cent

New Brunswick: 10.7 per cent

Quebec: 8.6 per cent

Ontario: 6.7 per cent

Manitoba: 5.1 per cent

Saskatchewan: 6.0 per cent

Alberta: 5.1 per cent

British Columbia: 8.2 per cent

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