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Alberta's unemployment rate drops to 6.9% as more people find jobs: StatCan

January 06, 2018 03:06·
The unemployment rate remained at 4.1% for a third straight month the lowest level since 2000

The unemployment rate remained at 4.1% for a third straight month the lowest level since 2000

Employment rose almost 2.1 million last year, slightly slower than 2016, President Barack Obama's final year in office. The central bank increased the benchmark interest rate three times a year ago and is expected to hike three more times in 2018. The employment-population ratio was unchanged at 60.1 percent in December but was up by 0.3 percentage point over the year.

Accordingly, I expect payrolls to have ticked up by 205,000 in December, the unemployment rate to inch down to 4 percent and real hourly earnings to tick up by 7 cents.

In January 2017, there were 18,436,000 employed black Americans over the age of 16.

Among the unemployed, the number of new entrants decreased by 116,000 in December.

The report said non-farm payroll employment climbed by 148,000 jobs in December after spiking by an upwardly revised 252,000 jobs in November. This was in contrast to trade/transportation/services, which gained 45,000 jobs during the month, and professional/business services, which gained 72,000, the company said. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.

Construction employment rose by 210,000 - higher than the 155,000 gain in 2016. With these revisions, total nonfarm employment gains during the two-month period were 9,000 less than previously reported.

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An alternative measure of unemployment that counts discouraged workers and those working part-time for economic reasons edged higher to 8.1 percent. It will take some time to see those effects in job reports, but the White House and GOP had better hope it doesn't take too long. Should unemployment fall to 3.5 percent, those complaints will intensify. While the largest three industries in terms of employment gains previous year were professional services (excluding temporary help), health and social assistance and leisure and hospitality, employment growth in 2017 was also driven by a turnaround in mining and accelerated gains in manufacturing. Within the industry, employment in general merchandise stores declined by 27,000 over the month.

Employment in other major industries, including mining, wholesale trade, transportation and warehousing, information, financial activities, and government, changed little over the month.

United States job growth slowed more than expected in December amid a decline in retail employment, new figures show. Average weekly hours ticked up by 0.1 to 34.5 hours.

Average hourly wages rose by nine cents, or 0.3 %, in December.

On the flip side, the construction industry was the big employment-gain leader for the month with a gain of 30,000 jobs. But it's a sharp dropoff from the revised November result of more than 250,000 jobs.

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