CANADA'S UNEMPLOYMENT RATE FOR JANUARY DECREASES TO 7%

Following two months of gains, employment decreased slightly in Canada in January (-22,000).  A decline in the number of people looking for work pushed the unemployment rate down 0.1 percentage points to 7.0%.

Following two months of increases, employment in Ontario declined by 31,000 in January, all in full-time work. With fewer people searching for work, the unemployment rate fell 0.2 percentage points to 7.7%. On a year-over-year basis, employment in the province was up 1.2%.