MNI 5 Things:Canada Full-Time Employment Declines;Wages Slow>

     OTTAWA (MNI) - The following are the key points from the February 

data on the Canadian Labor Force Survey released Friday by Statistics 

Canada: 

     - The economy added 15,400 jobs in February, less than the 20,000 

gain expected by analysts in a MNI survey. The unemployment rate edged 

down to 5.8% from 5.9%, roughly in line with expectations. Employment 

gains were led by the public sector (+50,300), while the private sector 

added just 8,400 jobs. 

     - The softer print in February was in line with signs of a slowing 

economic activity. The breakdown was disappointing in that gains were 

only recorded for part-time employment (+54,700), while 39,300 full-time 

positions, considered better quality, were cut. On the bright side, the 

share of part-time workers for involuntary reasons in total part-time 

employment edged down to 21.4% in February from 21.6% in January and 

23.7% in February 2017 (unadjusted). 

     - On the wage front, average hourly wage growth for permanent 

workers slowed to 3.1% year-over-year from 3.3% in January, which was 

the highest rate since March 2016. 

     - On a sector basis, employment in services rose 25,900, only 

partially recovering January's 71,900 drop. Employment in 

goods-producing industries fell 10,400 on the back of a 16,200 drop in 

January. The 16,500 decrease in manufacturing, the largest since March 

2016, is not a welcome development, especially given that employment in 

the sector was up by less than 1,000 the previous month. The data came a 

day after BOC Deputy Governor Timothy Lane warned that despite 

manufacturing gains in recent quarters, competitiveness challenges could 

translate into disappointing non-energy goods exports, limiting Canada's 

ability to benefit from global growth.  

- The participation rate held steady at 65.5% in February, but edged 

down to 63.5% from 63.6% for youth between 15 and 24 years of age. Youth 

unemployment has been a concern of BOC Governor Stephen Poloz, and 

February's data were not encouraging on that front with the unemployment 

rate of this age category rising to 11.1% from 10.9%. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]