Statistics Canada released the labour market data on Friday. Canada's unemployment rate decreased to 6.6% in January from 6.7% in December. December's figure was revised down from 6.6%. Analysts had expected the unemployment rate to remain unchanged.

The number of employed people increased by 35,400 in January, exceeding expectations for a gain of 5,100, after a 11,300 decline in December. December's figure was revised down from a 4,300 fall.

The increase was driven by part-time jobs. Full-time employment in January fell by 11,800 jobs, while part-time work surged by 47,200.

Self-employment grew by 41,100.

In 2014 as whole, the pace of job growth in Canada was the slowest since 2009.

The labour participation rate fell to 65.7% in January, the lowest since 2000.