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Unemployment rate by province and territory in February 2024. Image: Statistics Canada

Canada adds 41K jobs in February

By Brad Perry Mar 8, 2024 | 9:16 AM

Rapid population growth continues to outpace employment growth, according to Statistics Canada.

The country’s economy added 41,000 jobs in February as the unemployment rate edged up to 5.8 per cent.

Employment gains were spread across several industries, led by accommodation and food services.

There were declines in several other industries, including educational services and manufacturing.

While employment numbers continue to grow, they are not keeping up with the pace of population growth.

The employment rate — the proportion of the population aged 15 and older who are employed — fell by 0.1 percentage points in February to 61.5 per cent.

It marked the fifth consecutive monthly decline, the longest period of consecutive decreases since the six-month period ending in April 2009.

Meanwhile, average hourly wages among employees rose five per cent year-over-year in February to $34.82.

At look at some of the provincial numbers

New Brunswick lost 1,100 part-time jobs but gained 1,700 full-time positions for a net increase of 500.

But the unemployment rate climbed 0.3 percentage points to 6.9 per cent as there were more people in the labour force.

The labour force includes everyone 15 years of age and older who were either employed or unemployed.

Nova Scotia gained 7,900 full-time positions and lost 1,800 part-time jobs for a net increase of 6,300.

That pushed the unemployment rate down a full percentage point to six per cent.

Employment numbers were essentially unchanged in Prince Edward Island, where the unemployment rate fell to seven per cent.

In Ontario, the province gained 28,000 full-time jobs but lost 21,600 part-time positions for an overall increase of 6,700.

But just like New Brunswick, with more people in the labour force, the unemployment rate climbed three-tenths of a percentage point to 6.5 per cent.

You can view the full report on Statistics Canada’s website.