Canada’s unemployment rate remained unchanged at 5.00% in February as about 22,000 net new jobs were added to the economy during the month.
Statistics Canada said that employment rose in healthcare, public administration, and utilities during February. However, those gains were offset by declines in business, building and support services.
The February jobs report represents a slowdown from January when Canada’s economy added 150,000 new jobs, which was higher than economists expected.
Still, the unemployment rate in Canada continues to hover near a record all-time low of 4.90% set in July 2022.
The number of employees working in Canada’s private sector grew by 39,000 positions in February, while there was little change in public sector employment and among self-employed people during the month.
Employment levels rose in the Atlantic Canada provinces and in Manitoba, but were little changed elsewhere in the country, including in Ontario and Quebec, said Statistics Canada.
Average hourly wages in Canada rose 5.40% year-over-year to reach $33.16 in February.
Separately, the U.S. unemployment rate edged up to 3.60% in February from 3.50% in January of this year.
