Jobless rates in Canada dropped to 6.8 percent after the economy added 48,300 jobs in January, according to Statistics Canada. This increase includes both part- and full-time positions, said Paul Ferley, Assistant Chief Economist with Royal Bank of Canada. The report, he added, will result in the probability of any near-term easing of the Bank of Canada quite considerably. Doug Porter, Chief Economist with BMO Capital Markets, agrees that rising participation and the falling unemployment rate is a nice combination and sends a convincing signal that the economy is starting to improve.
