Canada grows jobs, but not wages: Stats Can

Nationally, the unemployment rate stayed at its 43-year low of 5.6 per cent last month as the economy closed out 2018 with the addition of 9,300 net new jobs. Instead, its sharp deceleration since the middle of previous year is viewed as a good reason for the Bank of Canada to wait a little longer before hiking interest rates.

The central bank, which will make a rate announcement next Wednesday, has raised its benchmark rate five times since the summer of 2017 in response to Canada's strong economic performance.

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

The 5.6 percent unemployment rate is the lowest since 1976 when comparable data were first kept.

In 2018, employment increased by 0.9 per cent in Canada.

"Without bottom-up wage pressure, further monetary tightening is clearly not urgent". Wage growth across the nation was small, with the average salary only pushing ahead by 1.49 per cent.

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A closer look at the December jobs numbers revealed softer details. The growth follows a net uptick of 94,000 jobs in November, which was Canada's largest monthly increase since March 2012. Governor Stephen Poloz said on December 17 that the pace of tightening could be interrupted or sped up depending on the economic circumstances.

Overall, Canada's job market went up by about 0.9 per cent with 163,000 new jobs in 2018.

Canadian employment gains hit a three-year low in 2018, official data showed on Friday, reinforcing market expectations that the Bank of Canada will keep interest rates unchanged next week.

Unemployment for the region of Prince Albert and Northern Saskatchewan rose.6 per cent from 6.4, sitting.2 per cent higher than one year ago.

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.

"Following strong growth in both goods and service industries in 2017, overall employment gains in 2018 were recorded nearly entirely in service industries, including health care and social assistance (plus 74,000 or plus 3.1 per cent); business, building and other support services (plus 59,000 or plus 7.8 per cent); transportation and warehousing (plus 56,000 or plus 5.7 per cent); and educational services (plus 33,000 or plus 2.6 per cent)".

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