London-St. Thomas jobless rate falls to 6.2 per cent in February

OTTAWA – Canada’s unemployment rate dropped to its lowest level in more than two years last month as fewer people were looking for work and more than 15,000 jobs were added nationally.

Statistics Canada says the unemployment rate fell by 0.2 percentage points to 6.6 per cent in February, matching the January 2015 rate.

The London-St. Thomas jobless rate fell to 6.2 per cent last month, its lowest level in about a year. It had been at 6.9 per cent for three months.

Ontario’s unemployment rate fell by 0.2 percentage points to 6.2 per cent in February.

The agency’s February employment survey indicated the national labour market added 15,300 jobs overall last month, higher than analyst expectations.

Economists had projected a gain of 2,500 jobs and the unemployment rate to stay at the 6.8 per cent level recorded in January, according to Thomson Reuters.

The Statscan report found most of the February job gains came from full time work, offset by a decline in the number of people working part time.

It said an estimated 105,000 more people found full time employment last month while part time positions dropped by 90,000.