February jobless rate rises to 7.7%.
Canada’s unemployment rate rose to 7.7 per cent in February, when 82,600 jobs were lost, the fourth consecutive month of declines.
The February drop pushed the national unemployment rate up half a percentage point, from 7.2 per cent in January, Statistics Canada reported Friday. The jobless rate has not been this high since it was eight per cent back in August 2003.
Economists had been expecting February jobs losses to come in around 55,000, and for the overall unemployment to rise to 7.4 per cent.
Good times.