Canada’s unemployment rate rose by 0.3% to 6.1% in March, according to Statistics Canada’s Labour Force Survey (LFS). On a year-over-year basis, the unemployment rate went up by 1%, according to the Friday study. Statistics Canada said employment saw negligible change in March, and the employment rate fell -0.1% to 61.4%. In March, it said employment declined among youth aged 15 to 24 (-1%), but it rose among men 25 to 54 (+0.3%). Employment was little changed among women aged 25 to 54 and men and women aged 55 and over. There were fewer people employed in accommodations and food services (-2.4%), wholesale and retail trade (-0.8%), and professional, scientific, and technical services (-1%). Employment increased in four industries, but it was led by healthcare and social assistance (+1.5%). Total hours worked in March were unchanged, but they were up 0.7% compared with one year earlier. Average hourly wages among employees rose 5.1% on a year-over-year basis in March. This followed growth of 5% in February. Statistics Canada said in February the country’s unemployment rate fell for the first time in January since 2022.READ MORE: Canada’s falling unemployment signals longer high interest rates; Alberta’s jobless rate still higher than averageIt said Canada added 37,000 jobs in January, pushing unemployment down to 5.7% — the first drop since 2022. The Bank of Canada had been expecting a more modest gain of about 10,000 jobs, which would have pushed unemployment up to 5.9%.Alberta’s unemployment rate in January was 6.2% — flat from 6.3% in December and representing a gain of more than 10,000 jobs. Most of these jobs were full-time employment.The LFS estimates are based on a sample and are subject to sampling variability. As a result, monthly estimates will show more variability than trends observed over longer time periods.
Canada’s unemployment rate rose by 0.3% to 6.1% in March, according to Statistics Canada’s Labour Force Survey (LFS). On a year-over-year basis, the unemployment rate went up by 1%, according to the Friday study. Statistics Canada said employment saw negligible change in March, and the employment rate fell -0.1% to 61.4%. In March, it said employment declined among youth aged 15 to 24 (-1%), but it rose among men 25 to 54 (+0.3%). Employment was little changed among women aged 25 to 54 and men and women aged 55 and over. There were fewer people employed in accommodations and food services (-2.4%), wholesale and retail trade (-0.8%), and professional, scientific, and technical services (-1%). Employment increased in four industries, but it was led by healthcare and social assistance (+1.5%). Total hours worked in March were unchanged, but they were up 0.7% compared with one year earlier. Average hourly wages among employees rose 5.1% on a year-over-year basis in March. This followed growth of 5% in February. Statistics Canada said in February the country’s unemployment rate fell for the first time in January since 2022.READ MORE: Canada’s falling unemployment signals longer high interest rates; Alberta’s jobless rate still higher than averageIt said Canada added 37,000 jobs in January, pushing unemployment down to 5.7% — the first drop since 2022. The Bank of Canada had been expecting a more modest gain of about 10,000 jobs, which would have pushed unemployment up to 5.9%.Alberta’s unemployment rate in January was 6.2% — flat from 6.3% in December and representing a gain of more than 10,000 jobs. Most of these jobs were full-time employment.The LFS estimates are based on a sample and are subject to sampling variability. As a result, monthly estimates will show more variability than trends observed over longer time periods.
