Canada Unemployment Rate at 3-Year High

Canada's jobless rate increased to 7.3 percent in February of 2016 from 7.2 percent in the previous month. It was the highest reading since March of 2013 as the number of unemployed went up. In contrast, employment was virtually unchanged, as gains in part-time work were offset by losses in full time.

Unemployment increased by 20,100 to 1,410,400, while employment decreased by 2,300 to 18,002,900. Part-time employment rose by 49,500 while full-time declined by 51,800. Meantime, labour force went up by 17,800 to 19,413,300.

On a year-over-year basis, employment grew by 0.7 percent (+118,000), with the gains mostly coming from full-time work (+82,000 or +0.6 percent). The unemployment rate rose from 6.8 percent to 7.3 percent, as the labour force grew at a faster pace than employment. At the same time, the number of hours worked increased by 1.0 percent. 

Saskatchewan, New Brunswick and Prince Edward Island registered employment declines, whereas British Columbia recorded an increase. There was little change in the remaining provinces.

Employment fell in health care and social assistance (-19,600), educational services (-16,900), 'other services' (-14,900) and natural resources (-8,900). At the same time, there were more people working in construction (+34,000), in business, building and other support services (+12,700), as well as in agriculture (+7,200)

The number of public and private sector employees as well as the number of self-employed workers were little changed in February.

The participation rate remained steady at 65.9 percent from the previous month.

Youth unemployment rate rose to 13.3 percent from 13.0 percent in January.

Canada Unemployment Rate at 3-Year High

Statistics Canada | Yekaterina Guchshina |
3/11/2016 7:08:45 PM