Following three months of little change, the Canadian labour market increased by 37K jobs in January. The employment rate fell 0.1 percentage points to 61.6%, as population growth (+0.4%) outpaced employment growth (+0.2%).
The unemployment rate fell 0.1 percentage points to 5.7% ‒ the first decline since December 2022. The rate had been trending upward for most of 2023 – from 5.1% in April to 5.8% in December.
Check out the latest edition of the Canada Talent Market Monthly for details.