Canadian labour markets recover after pandemic-related health measures lifted in several provinces
Statistics Canada published Labour Force Survey results on March 11, 2022 which indicate the recovery of the Canadian labour market.
Based on the report, in February, employment climbed 337,000 (+1.8%), and the unemployment rate dropped 1.0 percentage points to 5.5%. This indicator is lower than in February 2020 (5.7%) and close to the record low (5.4%) observed in May 2019.
The increase in the employment rates was widespread across provinces and demographic groups and was most notable in the accommodation and food services, information, culture, and recreation industries.
According to the Labor Department, the overall employment rate or the proportion of workers aged 15 and older who had jobs rose by 1.0 percentage point in February to 61.8%, which was the first time it had returned to its pre-February 2020 level. The employment rate, which reflects both the level of employment and the size of the population, has been slower to recover since September 2021.
In February, the employment rate for the core working-age population (aged 25 to 54 years) reached 84.6%, with the employment rate for core-aged men (88.2%) reaching its highest level since November 1981. Among women in their 50s and 60s, whose employment rate has been rising for several decades, the employment rate has reached a new record high of 81.0%.