Canada nears record-low unemployment rate in February

March 19, 2022

Canada’s labour force made a full recovery in February as Omicron-related public health measures lifted in several provinces.

Statistics Canada measured Canada’s labour market performance during the week of February 13 to 19. After public health measures were tightened in December and January, many had been lifted by the February reference week. Several provinces were easing proof of vaccination requirements and increasing capacity limits in restaurants, retailers, theatres, and gyms.

Unemployment had fallen below its pre-COVID-19 level for the first time, down to 5.5%. Before the pandemic, in February 2020, the unemployment rate was 5.7%. The record unemployment rate was 5.4% in May 2019.

On a seasonally unadjusted basis, the total immigrant unemployment rate was 5.7% in February, compared to 5.9% in February 2020.

Source: CIC News