Creation of 41 thousand jobs in February; The unemployment rate increased to 5.8 percent

Canada's economy added 41,000 jobs in February as population growth outpaced job creation. The unemployment rate rose to 5.8 percent last month, according to the federal agency's labor force survey released Friday. The highest amount of employment creation was in the production of services, accommodation and food services.

High population growth has led to more consumers and workers in the economy, and this has led to the continuous creation of jobs in the country. Statistics Canada recently put more emphasis on the employment rate in its reports to determine whether the increase in jobs with population growth. Does it match or not? The federal agency noted in its report on Friday that the employment rate fell for the fifth consecutive month in February. Meanwhile, wages in Canada are rising rapidly. Average hourly wages rose five percent from a year ago, but were down from a 5.3 percent rate in January.

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