Windsor unemployment falls below national jobless rate

Windsor unemployment falls below national jobless rate

But the sharp deceleration since mid-2018 is seen as a good reason for the Bank of Canada to wait longer before raising interesting rates.

The Bank of Canada has been monitoring wage growth ahead of its rate decisions as it tries to determine how well indebted households can absorb higher borrowing costs.

The Bank of Canada has raised rates five times since July 2017 as the economy strengthens but analysts say there is no chance it will tighten again on January 9.

Governor Stephen Poloz has signalled that more increases will be needed to prevent inflation from rising too high.

The unemployment rate for the Wood Buffalo-Cold Lake area continues to drop, now sitting at 5.1 for the first time since late 2014.

Meanwhile, in Saint John, the labour force also increased slightly - by 0.1 per cent in December.

Further, he highlighted how average hourly earnings held steady at 1.5 per cent, which he wrote doesn't suggest the market is "producing the types of healthy wage gains that would be expected" with current record low levels of unemployment.

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A closer look at the December jobs numbers revealed softer details.

The net gain of 9,300 for the month was deemed too low by Statistics Canada to be statistically significant. The result follows a gain of 94,100 net jobs in November, the country's largest monthly increase since March 2012.

Bank of Canada Governor Stephen Poloz said on December 17 that the pace of tightening, which he stresses will be heavily dependent on data, could be interrupted or sped up depending on the economic circumstances.

Ontario matches Windsor's unemployment rate at 5.4 per cent, which is the second lowest among the provinces.

Statistics Canada numbers show B.C.'s jobless rate in December was 4.4 per cent. Employment saw a 2.5 per cent rise year-over-year, but from November to December, it fell 0.5 per cent. Unemployment increased 7.3 per cent since December 2017. Employment continued to grow in 2018, up 22,000 (plus 0.9 per cent).

Statistics Canada says gains in part-time work were outweighed by the loss of full-time jobs in Alberta, while in Saskatchewan job growth was led by agriculture. Increases were recorded in manufacturing, transportation and warehousing, as well as in health care and social assistance.

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