Unemployment rate drops to 5.7%, reaches lowest mark in more than 40 years

December reading marked the 13th-straight month of job gains

The unemployment rate fell to its lowest level in more than 40 years as Canada closed out a calendar year that saw it produce jobs at a pace not seen since 2002.

Statistics Canada reported Friday that the unemployment rate dropped to 5.7 per cent in December, down from 5.9 per cent the month before, to reach its lowest mark since comparable data became available in 1976.

In December 2016, the unemployment rate was 6.9 per cent, the report said. The last time the jobless rate was 5.8 per cent was October 2007.

The unemployment reading fell last month as the economy generated 78,600 net new positions, including 23,700 full-time jobs.

By region, Quebec and Alberta saw the biggest increases last month with each province adding more than 26,000 new jobs. Quebec’s unemployment rate fell 0.5 percentage points to 4.9 per cent, while Alberta’s dropped 0.4 percentage points to 6.9 per cent.

The December reading marked the 13th-straight month of job gains, however, about half of those positive numbers were within the survey’s margin of error.

For 2017, the agency’s labour force survey said employment rose 2.3 per cent for its fastest growth rate in 15 years. The economy added 422,500 jobs last year with the gains driven by 394,200 new full-time positions.

By industry, factories saw employment increase 3.5 per cent in 2017, while the services sector experienced a boost of two per cent.

The survey also found that over the last year the number of employed people aged 55 and over rose 5.3 per cent. This exceeded the 2.9 per cent rate of population growth for the age group.

Among core-aged workers, those between the ages of 25 and 54, employment increased 1.6 per cent last year.

In a separate report Friday, Statistics Canada says the country’s merchandise trade deficit widened to $2.5 billion in November, compared to a $1.6-billion deficit the month before, as imports outgrew exports.

Andy Blatchford, The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

B.C. freestyle skier wins gold

Cassie Sharpe of Comox shines in the halfpipe

Jacob Tremblay tells Langley film fest about playing a boy with facial differences

It was a long stay in a makeup chair, but it could have been even longer

Langley Rivermen inviting fans to anti-bullying painting party

Come down to George Preston Recreation Centre Wednesday night to take stand against bullying

Update: Eyewitnesses kept driver who hit Langley pedestrian from fleeing (with video)

Police issue tickets for multiple offences after Sunday incident

VIDEO: A Langley man travels coast-to-coast to honour Canada’s national symbol

The “Beaver appreciation tour” was timed for country’s 150th birthday

Update: Police report “physical altercation” during Langley gas station holdup (with video)

Incident on Glover Road involving armed robber draws massive police response

Virtue and Moir end ice dance careers with Olympic gold

Virtue and Moir’s gold medal win at the Olympics makes them the world’s most decorated figure skaters

Canadians find living in small spaces teaches creativity

Canadian families choosing to live in small spaces to bring closeness to children

SAR suspends search for missing man at Sun Peaks

RCMP will continue to search for a missing man near Kamloops but SAR has suspended their role

Lottery will help save children’s lives

Each ticket gets you a chance to win a lot of money, while helping a lot of kids

B.C. RCMP officer officially cleared in car wash shooting incident

A report found the Salmon Arm officer fired 14 bullets at the man’s truck

Fallen cedar knocks out Otter area power

Strong gusts of wind caused an entire cedar to split off and crash into power lines

Aldergrove U18 soccer boys keep on win streak

Aldergrove’s boys prevailed in this game and have a 8 win, 1 tie and 2 loss record

Interest in Canadian Armed Forces remains high

Canada seeks about 5,000 recruits each year for its regular forces of about 68,000

Most Read