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Canada's unemployment rate falls to lowest level since March 2020
Toronto City News
BY THE CANADIAN PRESS
POSTED MAR 12, 2021 4:00 AM EST LAST UPDATED MAR 12, 2021 AT 9:39 AM EST
Statistics Canada says the economy added 259,000 jobs in February, almost wiping out losses sustained over the previous two months.
The economy lost almost 213,000 jobs in January as lockdown measures erased months of gains, and marked the worst monthly declines since last April.
February’s reopenings reversed that drop with gains largely in Ontario and Quebec, and in sectors highly affected by tightened public health restrictions.
The national unemployment rate fell to 8.2 per cent, the lowest level since March 2020 at the onset of the COVID-19 pandemic, and down from the 9.4 per cent recorded in February.
Statistics Canada says the unemployment rate would have been 10.7 per cent in February had it included in calculations Canadians who wanted to work but didn’t search for a job.
The figures blew past expectations of a gain of 75,000 and an unemployment rate of 9.2 per cent, according to financial data firm Refinitiv.
The economy lost almost 213,000 jobs in January as lockdown measures erased months of gains, and marked the worst monthly declines since last April.
February’s reopenings reversed that drop with gains largely in Ontario and Quebec, and in sectors highly affected by tightened public health restrictions.
The national unemployment rate fell to 8.2 per cent, the lowest level since March 2020 at the onset of the COVID-19 pandemic, and down from the 9.4 per cent recorded in February.
Statistics Canada says the unemployment rate would have been 10.7 per cent in February had it included in calculations Canadians who wanted to work but didn’t search for a job.
The figures blew past expectations of a gain of 75,000 and an unemployment rate of 9.2 per cent, according to financial data firm Refinitiv.
Read full article at link: https://toronto.citynews.ca/2021/03/12/canada-jobs-report-february/
Link to tweet
TEXT: #BREAKING: CANADA ADDED 259,200 NET JOBS IN FEBRUARY VS 75,000 ESTIMATE
Congrats to Canada!
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