The Canadian economy shed jobs for the first time since last August in February, recording its biggest monthly decline in nearly two years as weakness in part-time hiring pushed aside modest gains in full-time work. During the month, the economy lost 21,200 jobs in total. The jobless rate held steady at 7.4 per cent.
The February job losses were the biggest since December, 2001, when 22,500 jobs were lost. Economists also suggested the recent report also gives the Bank of Canada one more reason to lower interest rates again next month.
By comparison, the U.S. employment market has remained a sore point in an otherwise burgeoning economy, failing to post a turnaround despite signs of strength elsewhere