Canada creates 337,000 jobs in February and unemployment drops to 5.5% – the world

Toronto (Canada), March 11 (EFE). – The Canadian economy created 337 thousand jobs in February, which reduced the unemployment rate to 5.5%, which is lower than the figure recorded two years ago, just before the start of the epidemic.

It is the first time that Canada’s unemployment level has fallen below the rate that existed before the coronavirus. In February 2020, the rate was 5.7%.

Analysts expected the Canadian economy to create about 125,000 jobs in the second month of 2022, less than half the figures provided Friday by Statistics Canada (EC).

In January of this year, the Canadian economy lost 200,000 jobs, leaving the unemployment rate at 6.5%, at a time when restrictions were re-imposed to curb the spread of Covid-19.

But the easing of measures in February allowed a strong recovery in employment in the country that left the unemployment rate close to the historic low of 5.4% reached in May 2019.

The European Commission added that the number of working hours increased by 3.6% in February and that the employment rate (the proportion of the employed population over 15 years of age) rose one percentage point to 61.8%.

The sectors that generated the most jobs last month were the hotel and food sector, with 114,000 jobs created and information, culture and entertainment, with gains of 73,000 jobs.

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