Canada Emplyment inflation. Image credit: Pixaby
Toronto/CMEDIA: With the addition of 326,000 jobs since Sept, Canada’s employment and economy followed an upward trend, Statistics Canada said in its latest labour force survey released Friday.
Forecasters had expected that higher interest rates would weigh on the labour market.
With 153,000 people joining the labour force in Jan, more Canadians were working or looking for work resulted in country’s steady unemployment rate at five per cent
Wholesale and retail trade experienced the largest gains to employment, adding 59,000 jobs, followed by 40,000 jobs added in health care and social assistance, said Statistics Canada.
Most of the jobs added to the economy were full-time, and people aged 25 to 54 drove the gains.
With the hot labour market, wages have also been rising, though at a slower pace than inflation.
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