Construction industry shed 8,500 jobs in January, even as overall economy gained ground
February 8, 2019 by On-Site Staff
OTTAWA—Employment in the Canadian construction industry dipped for the second-straight month in January, shedding 8,500 jobs, according to the latest Statistics Canada data.
The 0.6 per cent seasonally adjusted decline from the month before occurred even as the overall economy posted a surprisingly strong gain of 67,000 positions, or 0.8 per cent, for the first month of 2019. Economists were predicting a net gain of just 5,000 jobs across the country, according to HSBC Bank.
In spite of the decline for the month, the construction labour force remains up 12,900 jobs, or 0.9 per cent year-over-year. As was the case in January, however, the sector has fared worse than the overall economy , which is up 355,300 jobs or 2.3 per cent from 2018.
Canada’s unemployment rate ticked up marginally to 5.8 per cent through January as more people looked to enter the workforce.