CANADA GAINS 337,000 JOBS IN FEBRUARY; UNEMPLOYMENT RATE FALLS BELOW PRE-COVID LEVEL

Employment in Canada rose by approximately 337,000 jobs in February when compared to January, an increase of 1.8%, Statistics Canada reported today. The agency observed indicators that point to an increasingly tight labor market in February. The employment growth was driven by a gain of 347,000 in the number of private-sector employees, which was partially offset by a decline of 18,600 self-employed workers. Statistics Canada also noted the number of public-sector workers rose by 7,900.

Employment gains were noted widespread across industries. The number of people working in the services-producing sector rose by 293,000 in February, more than recouping losses from January.

Gains were most notable in the “accommodation and food services” industry, which saw employment climb by 114,000. The “information, culture and recreation” industry also reported a rise, up by 73,000, along with the goods-producing sector, which rose by 44,000, its third consecutive monthly increase.

Additionally, the construction industry reported a major increase, with employment up by 37,000.

The Canadian unemployment rate fell below its pre-Covid level for the first time. It was 5.5% in February, lower than the 5.7% seen in February 2020.

Employment rose in eight provinces and remained steady in Alberta and New Brunswick.

The largest proportional increases were in Newfoundland and Labrador and Prince Edward Island. Employment in Newfoundland and Labrador rose by 9,500 jobs.

Original Article: https://www2.staffingindustry.com/Editorial/Daily-News/Canada-gains-337-000-jobs-in-February-unemployment-rate-falls-below-pre-Covid-level-60930