In January 2023, the economy of Canada acquired a net 150,000 jobs. According to Statistics Canada, the job gain is mostly in full-time work, and it exceeds analyst forecasts. On the other hand, the jobless rate remains at 5.0%, contradicting estimates that it would rise to 5.1%.
From reports, the services sector in Canada recorded a net of 124,700 jobs. These jobs were mostly in wholesale and retail trade, health care and social assistance. Also, the goods-producing sector’s employment rose by a net 25,400 positions. These jobs were mainly in the construction industry, according to Canadian Visa Expert.
Canadian Provinces with the Largest Employment Increases
From the report, employment in Canada rose by 150,000. This record was revealed in the Canadian labour market report for January of this year. According to Statistics Canada, provinces like Ontario, Quebec and Alberta reported the most significant employment increases. Some other regions with higher employment levels are Nova Scotia and Saskatchewan.
On the flip side, employment levels were reduced in Newfoundland and Labrador.
Statistics Canada concluded that the total number of unemployed people remains at 1 million. Canadian Visa Expert stated that this is the same as the level reported since the summer of last year.
The Core-age Group Responsible for the Job Additions in Canada
In January, Canada enjoyed its fifth consecutive monthly gain in jobs, according to Statistics Canada. The job gain, spread across diverse industries, is primarily driven by the core-age group of 25-to 54-year-olds.