Source: ca.finance.yahoo.com

Canada’s job market experienced a rebound in February, as restrictions were eased to varying degrees, adding 259,000 jobs.

According to Statistics Canada, gains were mostly in part-time work (171,000) but there were full-time gains as well (88,000).

The unemployment rate fell 1.2 percentage points to 8.2%, to the lowest rate since March 2020.

The February gain is well ahead of the 75,000 jobs economists predicted and follows 266,000 jobs lost over the previous two months.

As restrictions started to ease we saw a rebound in Ontario (+100,000) and Quebec (+113,000). Employment also increased in British Columbia, Alberta and Manitoba, while it fell in Newfoundland and Labrador.

After being hit hardest in previous months retail trade, accommodation and food services bounced back with a gain of 187,000 jobs as more non-essential businesses were allowed to reopen.

 

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