#Canada, #CanadaJobIncrease, #StatisticsCanada, #Covid19Pandemic; #BankOfCanada
Ottawa/Canadian-Media: The addition of 259,000 jobs in Feb resulted in Canada's biggest job increase since September 2020, Statistics Canada said on Friday.
Statistics Canada. Image credit: Twitter handle
The unemployment rate also shrunk down to the lowest rate, since the declaration of the COVID-19 pandemic in March 2020, from 9.4 percent to 8.2 percent and exceeded the analysts' expectations of 75,000 added jobs and an unemployment rate of 9.2 percent, said Statistics Canada.
According to Statistics Canada's Canadian Labor Force Survey, the labor market during February saw 12 months of unprecedented changes from the COVID-19 pandemic.
Both part-time and full-time work increased, while the number of self-employed workers remained constant.
February's numbers were strongly influenced by the easing of pandemic restrictions, said Statistics Canada in such provinces as Quebec, Alberta, New Brunswick and Nova Scotia, as well as parts of Ontario with gains being concentrated retail, accommodation and food services in Ontario and Quebec and in jobs that pay $17.50 an hour or less.
The employment rate among Indigenous women also decreased down 6.8 percentage points year-over-year and was unchanged for Indigenous men.
While the federal government said it will use jobs as a gauge for planned stimulus measures to be unveiled in a spring budget, analysts saw through job gain closing of excess capacity faster than the Bank of Canada's expectations.
But the main concern of the Bank of Canada is about the high number of people still out of work because of the pandemic.