The rate of unemployment goes to 5.5 % in Quebec

Le taux de chômage passe à 5,5 % au Québec

Photo: Getty images
According to Statistics Canada, the country has generated 163 300 net new jobs in 2018, an increase of 0.9 %.

The rate of unemployment in the country stood at 5.6% to 2018, down by 0.2 percentage point, reported Friday by Statistics Canada. This is the lowest rate observed since January 1976, when comparable data became available.

After a robust growth in 2017, employment in Quebec has remained at the same level in 2018. The number of people seeking work has increased, the unemployment rate rose 0.5 percentage point to 5.5 % at the end of 2018.

The canadian economy has entered into 2018 with the addition of 9300 net new jobs in December.

Economists had expected the addition of 5,500 jobs and an unemployment rate of 5.7 %, according to Thomson Reuters Eikon.

However, even in a labor market tightened, the last survey on the labour force shows that the growth of wages in the country has provided another low reading in December, 1.49 %, which is well below inflation.

The average annual growth in hourly wages of permanent employees was 1.46% in November — and it has slowed steadily since the peak reached in may of 3.9 %.

According to Statistics Canada, the country has generated 163 300 net new jobs in 2018, an increase of 0.9 %, which is a slower growth compared to 2.3% in 2017 and 1.2% in 2016.

The growth of employment in 2018 has been mainly concentrated in the services sectors, which have generated 151 000 jobs, compared with an increase of only 12 300 in the goods-producing industries.

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