Canada Records Lowest Unemployment Since March 2020

Canada saw an employment rebound in February, adding 259,000 jobs and seeing the lowest unemployment since March 2020, when COVID-19 restrictions were first imposed.

The Canada jobs Labour Market Survey saw an unemployment rate of 8.2 percent, as the major provinces of Quebec and Ontario spearheaded the recovery.

Stakeholders will be hoping the figures are a sign of Canada’s emergence from the second wave of coronavirus that resulted in a series of provincial lockdowns in recent months.

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Demographically, the young people aged 15 to 24 added 100,000 jobs in the month, an increase of 4.5 percent, for an unemployment rate of 17.1 percent.

In the core age of 25 to 54, employment rose by 134,000 jobs, erasing losses seen in January.

For women in the age-group, unemployment fell to 6.5 percent in February, compared to 6.9 percent for men.

Employment among people aged 55 and older rose by 25,000 in February.

What Are The Labour Force Survey Highlights?

Source: Statistics Canada

Provincial Canada Jobs Picture

Employment increased in both Quebec, which added 113,000 jobs, and Ontario, which added 100,000, coinciding with the easing of public health restrictions in most areas of both provinces.

British Columbia, Alberta and Manitoba, while it declined in Newfoundland and Labrador also saw employment increases.

Unemployment Rates In Canada’s Provinces

Source: Statistics Canada