Canada gains 337,000 jobs in February; unemployment rate falls below pre-Covid level

March 11, 2022

Employment in Canada rose by about 337,000 jobs in February from January, a 1.8% increase, Statistics Canada reported today. The agency observed indicators that point to an increasingly tight labor market in February. Employment growth was fueled by a gain of 347,000 in the number of private sector employees, which was partially offset by a decline of 18,600 in the self-employed. Statistics Canada also noted that the number of public sector workers increased by 7,900.

Employment gains were observed across all industries. The number of people working in the service sector rose by 293,000 in February, more than recouping January’s losses.

Gains were most notable in the ‘Accommodation and food services’ industry, which saw employment increase by 114,000. The ‘Information, culture and recreation’ industry also saw an increase of 73 000, as well as the goods-producing sector, which increased by 44,000, its third consecutive monthly increase.

In addition, the construction industry recorded a significant increase, with an increase of 37,000 jobs.

Canada’s unemployment rate has fallen below its pre-Covid level for the first time. It was 5.5% in February, lower than the 5.7% observed in February 2020.

Employment increased in eight provinces and remained stable in Alberta and New Brunswick.

The largest proportional increases were observed in Newfoundland and Labrador and Prince Edward Island. Employment in Newfoundland and Labrador increased by 9,500 jobs.