Canada adds 22,000 jobs in Feb, but unemployment holds at 5%
1 min read . Updated: 10 Mar 2023, 08:19 PM IST
Premium- The modest uptick in employment was widely expected after two oversized increases in December and January
Canada's national statistical agency has announced that the country added 22,000 jobs in February, with increases seen in health care and social assistance, public administration, and utilities.
However, the unemployment rate remained unchanged at 5%, near a record low of 4.9% observed in June and July of 2021.
According to Statistics Canada, employment grew in February in health care and social assistance (+15,000), public administration (+10,000), and utilities (+7,500). At the same time, fewer people worked in business, building and other support services (-11,000).
The slight uptick in employment was expected after two significant increases in December and January and an overall increase of 348,000 jobs over the past six months to February.
Employment among Canadians aged 55 to 64 saw strong gains, with over 60% of women in this age group employed in February, the highest proportion on record. Fewer people worked in business, building, and other support services.
While the increase in employment is positive news, the steady unemployment rate highlights the ongoing challenges of the Canadian labor market during the COVID-19 pandemic.
(With inputs from agencies)