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Crisis puts 129,000 out of work in January alone

Latest update : 2009-02-06

Canada registered an additional 129,000 unemployed in the sole month of January, the grimmest monthly tally in decades. The unexpected hike pushes the overall unemployment rate to 7.2%.

AFP - Canada shed a much worse than expected 129,000 jobs in January, sending unemployment up 0.6 percent to 7.2 percent, Statistics Canada said Friday.

The jobs loss was worse than the grimmest monthly showings of the downturns of the 1980s and 1990s, Statistics Canada said in a statement.

And the January drop in employment topped by far the 40,000 job losses analysts had forecast. They predicted unemployment would edge up to 6.8 percent from 6.6 percent in December.

Date created : 2009-02-06