The Canadian unemployment rate fell to 5.3% in March, the lowest level since comparable data became available in 1976, Statistics Canada reported today. In addition, the adjusted unemployment rate — which includes people who wanted a job but did not look for one — was below its prepandemic level for the first time at 7.2%.
“With the exception of an increase in January 2022, the unemployment rate has fallen consistently in recent months, mirroring the situation in other countries with increasingly tight labor markets, including the United States, Australia, and the United Kingdom.”
Canada added 72,500 jobs in March, bringing total employment to nearly 19.6 million. The gain was all in full-time employment, which rose by 92,700 jobs, more than offsetting the decline of 20,300 in part-time jobs.
The number of self-employed people rose by 31,100 in March while the number of private-sector employees rose by 39,000. The ranks of public-sector employees rose by 2,300.
Statistics Canada noted that employment increased in four provinces: New Brunswick, up by 4,100 jobs; Prince Edward Island, up 800 jobs; Quebec, up 27,000 jobs; and Ontario, up 35,000 jobs.