After a surprise drop in January, the unemployment rate resumed its upward movement in February to stand at 5.8% in the country, indicates Statistics Canada.
In Quebec, the unemployment rate remained virtually unchanged, at 4.7%. The Canadian economy continues to create jobs at a surprising pace. Employment posted an increase of 41,000 in February, after recording a similar increase in January (+37,000). However, the number of jobs is increasing less quickly than the population, hence the increase in the unemployment rate.
In February, employment growth was attributable to the increase in full-time work. Compared to a year earlier, full-time work was up 260,000 in February, while part-time work was up 108,000.
Over the past year, employment has increased more quickly in the public sector than in the private sector, specifies Statistics Canada.
The 0.1% increase in the unemployment rate in February offsets the drop of the same order recorded in January. The unemployment rate increased from 5.1% to 5.8% between April 2023 and November 2023, and it has changed little since.
In February, the accommodation and food services sector regained jobs lost the previous month, but total employment in this sector remains 8% lower than before the pandemic.
Women trample
The average hourly wage continues to increase at a rate that is worrying for the Bank of Canada, which is trying to bring inflation down to 2%. In February, the average hourly wage increased by 5% compared to a year earlier, after an increase of 5.3% in January.
On this International Women’s Day, Statistics Canada reports that the wage gap between men and women persists. As of February 2024, working women aged 25 to 54 earn $0.87 for every dollar earned by men in the same age group. A year earlier, the gap was 0.86 for every dollar men earned.
This salary gap varies depending on the type of job. It is on average higher in the manufacturing sector and lower in the health sector, where women are the majority.
Furthermore, women continue to be underrepresented in management positions, where no progress has been recorded in recent years. According to Statistics Canada, women will occupy 35.3% of management positions in 2023, the same proportion as in 2022.