Canada’s economy added 41,000 jobs in February while the unemployment rate rose to 5.8 per cent, Statistics Canada said Friday.
Unemployment rose to 5.8 per cent, according to Labour Force Survey
Canada’s economy added 41,000 jobs in February while the unemployment rate rose to 5.8 per cent, Statistics Canada said Friday.
The report comes as high interest rates are putting a drag on the economy, but strong population growth appears to be offsetting some of those effects, including in the labour market.
The employment rate — which represents the proportion of Canadians aged 15 years and older who are employed — fell for a fifth month in a row.
That’s the longest period of consecutive decreases since the six-month period ending in April 2009.
The report attributes this downward trend in the employment rate to rapid population growth in the country.
More to come.
