OTTAWA – Jobs figures from Statistics Canada show Canadian employers largely put their hiring plans on ice in February.
The agency says employment was “virtually unchanged” last month amid a gain of just 1,100 jobs across the country, falling short of economists’ expectations.
Canada’s unemployment rate held steady at 6.6 per cent as population growth eased to its slowest pace since April 2022.
StatCan says wholesale and retail trade led job gains in February, but the economy was held back by losses in professional, scientific and technical services as well as transportation and warehousing.
Major snowstorms in Eastern and Central Canada meant more than 420,000 Canadians lost hours of work last month.
The February jobs figures will give the Bank of Canada a sense of how the labour market looked before getting hit with U.S. tariffs as the central bank gears up for an interest rate decision on March 12.
This report by The Canadian Press was first published March 7, 2025.
