near a record low, as the number of employees grew in the private sector, Statistics Canada reported Friday. The figures beat expectations in a Bloomberg survey of economists for a small increase of 10,000 positions and a jobless rate of 5.1 per cent.
The latest employment data add to a mixed picture of Canadian economy. Fourth-quarter growth came in weaker than expected, but the labour market continues to churn out jobs even with some weakness in rate-sensitive sectors like housing. The consistent hotter-than-expected job gains and sticky inflation could put the central bank back on a tightening path in coming months.
In February, total hours worked rose 0.6 per cent on a monthly basis, and were up 1.4 per cent compared to a year earlier, adding to evidence of sustained economic momentum in the first quarter.
That's a sign of a roaring hot economy fueling accelerated inflation. And bankofcanada has abandoned it's mandate to fight inflation under political pressures and to protect their fat pay checks.
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