In February, according to Statistics Canada, employment in Quebec increased by 82,000 (+1.9%) and the unemployment rate fell by 0.9 percentage points to reach 4.5%.
• Read also: Things to consider before investing in wartime
Full-time jobs increased by 0.7% between January and February 2022, with 26,600 more workers in Quebec. Part-time jobs experienced greater growth, with 54,800 more (+7.3%).
The strongest job gains were in accommodation and food services; information, culture and leisure as well as in the field of wholesale and retail trade due to the deconfinement.
The number of people working in information, culture and leisure exceeded its pre-pandemic level, with an increase of 73,000 (+9.9%) for the month of February.
Same story in the census metropolitan area (CMA) of Montreal, where employment jumped by 37,000 (+1.6%) for this period. The unemployment rate fell by 2.7%.
- Listen to Michel Girard’s economic editorial broadcast live every day at 6:50 a.m. at QUB-radio :
The increase in employment was observed across the country, with an increase of 337,000, or 1.8%. This growth is mainly attributable to that observed in the private sector, which experienced a jump of 2.8%, and the increase in the number of hours worked.
“We expected a good rebound in the labor market in February, while the resumption of certain activities after the passage of the Omicron wave would promote recovery. The magnitude of the improvement, however, far exceeds expectations,” said Benoit P. Durocher, senior economist at Desjardins.
The unemployment rate in Canada was 5.5%, down one point. This is a lower rate than that recorded in February 2020 (5.7%), but comparable to the lowest level reached in May 2019, with 5.4%.
“Most of the increase occurred in Ontario and Quebec, where gyms, fitness centers and other indoor venues reopened but were still subject to certain capacity limits,” said the federal agency.
Ontario saw its unemployment rate drop 1.8 points to 5.5%, the lowest level in two years. Employment increased by 194,000 (+2.6%).
The Toronto CMA observed the same trend as the province, with 116,000 more jobs (+3.3%). The unemployment rate fell by 3.9%.