BCREA Economics Now

Canadian Labour Force Survey and US Non-Farm Payrolls - March 9, 2012Canadian employment remained unchanged in February, the second consecutive month of flat payrolls. A decline in the total number of people looking for worked pushed the national unemployment rate down 0.2 points to 7.4 per cent.  While many provinces experienced slight contractions in employment last month, British Columbia added 9,100 new jobs in February, including 21,600 full-time positions while losing 12,600 part-time jobs. The BC unemployment remained at 6.9 per cent.

In the United States the jobs picture continues to look rosier with payrolls climbing by 227,000 in February. Moreover, January payrolls were revised higher by 50,000 jobs to 284,000. The US economy has created an average of 244,000 jobs per month over the past three months. The February unemployment rate remained steady at 8.3 per cent.