CANADIAN ECONOMY ADDS 337K JOBS, UNEMPLOYMENT RATE FALLS TO PRE-PANDEMIC LEVEL

Mar 11, 2022

By Bob Komsic

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The labour market grew by 337,000 last month, offsetting the loss of 200,000 in January when the unemployment rate was 6.5%.
February’s jobless rate was 5.5% – the lowest it’s been since February 2020 – just before the start of COVID-19.
Canadians were called back to work last month after  temporary layoffs in January as provinces tightened restrictions to slow the spread of the Omicron variant.
The proportion of those working rose to 61.8%; the first time that rate returned to its pre-pandemic level.
The Canadian Labour Congress points out hidden in the numbers are those Canadians who’ve been out of work for six-months or longer which remains higher than before the pandemic hit.

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