Canada job creation slows in February, unemployment holds at 5
March 11, 2023 08:58 AM
Canada added 22,000 jobs in February, but too few to move the unemployment rate from a near-record low of five per cent, the national statistical agency said Friday.
The modest uptick in employment was widely expected after two oversized increases in December and January, and an overall 1.8 per cent (348,000 jobs) increase over the past six months to February.
The unemployment rate, meanwhile, has remained steady since dropping a tick in December to just shy of a record-low 4.9 per cent observed last June and July.
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).
Notably, employment among Canadians aged 55 to 64 saw strong gains. Over six in 10 women in this age group were employed in the month -- the highest proportion on record.