Canada’s employment rate drops, marking its first decrease since 2022
(MENAFN) Canada’s employment figures declined by 33,000, or 0.2 percent, in March — marking the country's first monthly job loss since January 2022, according to data released on Friday by national statistics agency.
The national statistics agency attributed the decline primarily to a reduction in full-time employment, signaling potential concerns for the labor market's overall strength.
The employment rate dipped by 0.2 percentage points to 60.9 percent in March, partially reversing the 0.3 percentage point gain seen between October 2024 and January 2025.
Additionally, the unemployment rate edged up by 0.1 percentage points to 6.7% in March — the first rise since November of the last year.
In March, the unemployment landscape experienced a slight downturn, as reported by the national statistics agency. The total number of unemployed individuals reached a staggering 1.5 million, marking an increase of 36,000 people or 2.5% compared to the previous month. This rise also reflects a substantial year-on-year increase of 167,000 individuals, equating to a 12.4% jump.
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