WATCH: More than 35,000 jobs were added in January, far surpassing what economists were predicting. But look a little deeper, and the news is not so promising. Reid Fiest explains.
Opening its doors in late January, Rodney’s Oyster House is serving up plenty of oysters in downtown Calgary — and jobs.
One hundred new full- and part-time staff were hired to open up the restaurant.
Opening in the middle of an economic slowdown, brought on by slumping oil prices, has its challenges. But, also has an advantage said owner Rodney Clark.
READ MORE: Alberta job market keeps rolling in spite of oil shock
“I think I lucked out because the downturn in the economy,” Clark said the ease of hiring staff for his first restaurant outside of Toronto.
Clark was one of many employers who helped prop up Canada’s job numbers for January.
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Numbers not quite what they seem
To everyone’s surprise, the unemployment rate dropped to 6.6 per cent last month, with the addition of 35,400 new net jobs
ATB Financial economist Todd Hirsh was among the economists who didn’t expect the positive numbers. But, he warned it’s not all good news.
There 47,200 part-time jobs added to the Canadian economy in January, but 11,800 full-time jobs were shed.
He noted part-time jobs also offer more flexibility to reduce hours for employers.
More of a shock than the nation numbers were the job figures in Alberta, where the jobless rate dropped from 4.7 per cent in December to 4.5 per cent in January.
That’s despite 8,800 oil industry jobs lost across Canada last month.
READ MORE: Oil surges again on signs companies slow production
But, Hirsch cautioned the worst may still be coming.
Clark is realistic about the rough waters his seafood business could face, but he’s also realistic, noting his oyster house has a way for customers to survive a slowdown.
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