Unemployment in Canada held steady at 5% in January
Canada's unemployment rate in January 2023 was 5%, the same as in December, Statistics Canada data showed. The figure is 0.1pc higher than the record low of 4.9% recorded in June and July.
The number of people employed in the Canadian economy rose by 150,000, or 0.8%, last month, after rising 104,000 a month earlier. The number of employed young people aged 15 to 24 rose by 100,000, or 0.8%.
The employment rate (ratio of employed population to total population of surveyed age) was 65.7%, up from 65% the month before.
The increase in employment was recorded, in particular, in wholesale and retail trade, in health care and social assistance, as well as in educational services.