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Labour Force Survey, February 2024
Employment rose by 41,000 in February. The employment rate fell by 0.1 percentage points to 61.5%, as population growth (+0.3%) continued to outpace employment growth (+0.2%). The unemployment rate increased 0.1 percentage points to 5.8%, offsetting a decline in January. Employment increased among core-aged (25 to 54 years old) women (+45,000; +0.7%) and men (+23,000; +0.3%). At the same time, there were fewer women aged 55 and older employed (-29,000; -1.4%). Employment increased in Alberta (+17,000; +0.7%) and Nova Scotia (+6,300; +1.2%), while it declined in Manitoba (-5,300; -0.7%). There was little change in the ... (full story)
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Canada’s unemployment rate rises to 5.8% despite 41K jobs added in February
Canadian employers kept up their hiring pace in February, but the unemployment rate rose amid continual population growth, Statistics Canada said Friday. The agency said 41,000 net new jobs were added last month, driven by gains in full-time positions. The unemployment rate ticked up to 5.8 per cent. That follows a drop of 0.1 percentage points in the unemployment rate for January. Employment gains were spread across industries in the services sector in February, StatCan said. The Bank of Canada has been watching for softening in the labour market and a cooling in wage growth as it gauges how long its benchmark ... (full story)